India's ED searches CoinDCX, Delta Exchange offices in Bengaluru over alleged FEMA violations

India's Enforcement Directorate's Bengaluru unit searched three premises linked to crypto exchanges CoinDCX and Delta Exchange on 4-5 November over alleged FEMA 1999 violations, saying the platforms conducted unauthorized large-scale cross-border transactions. Investigators claim INR deposits were converted into USDT and routed to overseas exchanges. CoinDCX confirmed officials visited its Bengaluru office as a routine enquiry, saying it fully cooperated.

Detected & updated continuously · Source: Nebula