India has once again emerged as the global leader in cryptocurrency adoption, according to the latest report by Chainalysis. Despite strict regulatory policies and heavy taxes, Indian investors have been undeterred, continuing to engage in crypto transactions, particularly in centralized and decentralized finance (CeFi and DeFi) activities from June 2023 to July 2024. India’s lead …
Binance, the world’s largest cryptocurrency exchange, has resumed operations for users in India after a seven-month suspension imposed by local authorities for allegedly operating “illegally” in the country. The exchange announced on Thursday that it has registered as a reporting entity with India’s Financial Intelligence Unit (FIU), a government agency responsible for monitoring financial transactions. …
Binance resumes operations in India after 8 months Read More »
On July 18, Cyvers Alert reported that Web3 security firm Cyvers detected “multiple suspicious transactions” involving WazirX’s Safe Multisig wallet on Ethereum. They believe that $234.9 million of funds were moved to a new address, with each transaction’s caller funded by Tornado Cash, a decentralized protocol for private transactions. The new address has already converted …
Indian exchange WazirX reportedly hacked for $234M Read More »
The Financial Intelligence Unit-India (FIU-India), responsible for analyzing suspicious financial transactions, has received requests from four more offshore crypto exchanges to resume operations in India, according to a senior government official. At the start of 2024, India had banned nine crypto exchanges for non-compliance with anti-money laundering laws. The FIU lifted the ban on Kucoin …
India’s FIU receives resume request from four exchanges Read More »
