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Binance Execs to be Questioned Over Money Laundering by Chinese Betting Apps via WazirX

July 31, 2021
Source: zycrypto.com zycrypto.com
News Snapshot:
Anti-money laundering authorities in India are investigating whether Binance’s subsidiary and the largest crypto exchange in India WazirX is involved in money laundering activities linked to Chinese betting apps in the country. The investigation is part of the ongoing probe by the Enforcement Directorate (ED) into the Chinese betting apps which are alleged to have earned over $134 million in the past ten months. As reported by Bloomberg, the ED has notified Binance and is awaiting a response from the exchange. The apps allegedly used WazirX exchange, which Binance acquired in 2019 to launder some of the funds. Binance: Summons...
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