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Crypto Regulation

India’s ED Searches CoinDCX, Delta in Forex-Law Probe

India’s Enforcement Directorate conducted searches at crypto exchanges CoinDCX and Delta in a probe under foreign-exchange law, the firms said in Nov. 6 statements. Both exchanges said trading, deposits and withdrawals remained operational. Delta denied any cross-border digital-asset transfers.

Original source

AI take

The significance here is procedural rather than operational: India's forex-law enforcement is now reaching directly into domestic crypto exchange premises, not just offshore flows. The firms' insistence that trading and withdrawals continued, and Delta's denial of cross-border transfers, signals the probe's focus is on whether exchange activity crossed the line into regulated foreign-exchange territory. What's worth watching is whether the searches broaden to other venues or remain tied to specific transaction patterns, and whether operational continuity holds as the investigation proceeds.

Generated by AI for reference only.

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