Derivatives and RWAs have now been singled out by India.
On November 4 and 5, the Bengaluru Zonal Office of India’s Enforcement Directorate (ED), acting under FEMA 1999, searched three premises linked to CoinDCX and Delta Exchange. The ED accused the two platforms of suspected large-scale unauthorized cross-border financial transactions worth several hundred billion rupees, involving crypto token derivatives and RWAs (real-world asset tokens).
For ordinary users, a search of a platform doesn’t mean your positions are immediately at risk. But this time, the focus is on cross-border trading in derivatives and RWAs. Before deciding whether to take action, check whether all your funds and positions are concentrated on the same platform.
1️⃣ First, check how much you still have in positions and funds on these two platforms—not just your balances. 2️⃣ Don’t keep all your derivatives and RWA positions on one platform. 3️⃣ Keep records related to cross-border transactions.
Do you still have any positions linked to Indian platforms?
On November 4 and 5, the Bengaluru Zonal Office of India’s Enforcement Directorate (ED), acting under FEMA 1999, searched three premises linked to CoinDCX and Delta Exchange. The ED accused the two platforms of suspected large-scale unauthorized cross-border financial transactions worth several hundred billion rupees, involving crypto token derivatives and RWAs (real-world asset tokens).
For ordinary users, a search of a platform doesn’t mean your positions are immediately at risk. But this time, the focus is on cross-border trading in derivatives and RWAs. Before deciding whether to take action, check whether all your funds and positions are concentrated on the same platform.
1️⃣ First, check how much you still have in positions and funds on these two platforms—not just your balances. 2️⃣ Don’t keep all your derivatives and RWA positions on one platform. 3️⃣ Keep records related to cross-border transactions.
Do you still have any positions linked to Indian platforms?
