India just raided two crypto exchanges 👀
India's Enforcement Directorate searched CoinDCX and Delta Exchange over suspected foreign exchange violations. The claim: offshore trades routed through shell entities to get around local rules.
Both exchanges say operations are running as normal, but neither has said much more than that.
Why it matters: India has a huge retail crypto base, and every enforcement wave there tends to push volume offshore or freeze it entirely. More legal uncertainty usually means thinner local liquidity for a while.
Do you think this pushes Indian traders toward global exchanges, or scares them off for a bit?
Source: https://tradeassi.com/en/news/story/indias-ed-raids-coindcx-delta-exchange-over-forex-violations
#India #CryptoRegulation #CoinDCX
India's Enforcement Directorate searched CoinDCX and Delta Exchange over suspected foreign exchange violations. The claim: offshore trades routed through shell entities to get around local rules.
Both exchanges say operations are running as normal, but neither has said much more than that.
Why it matters: India has a huge retail crypto base, and every enforcement wave there tends to push volume offshore or freeze it entirely. More legal uncertainty usually means thinner local liquidity for a while.
Do you think this pushes Indian traders toward global exchanges, or scares them off for a bit?
Source: https://tradeassi.com/en/news/story/indias-ed-raids-coindcx-delta-exchange-over-forex-violations
#India #CryptoRegulation #CoinDCX