Enforcement Directorate (ED) on Friday mentioned it has issued a show-lead to notice to cryptocurrency exchange WazirX for foreign exchange management violations. “ED has issued Show Cause Notice to WazirX Crypto-currency Exchange for contravention of FEMA, 1999 for transactions involving crypto-currencies worth Rs 2,790.74 Crore,” the Enforcement Directorate mentioned in a Twitter post. WazirX is a cryptocurrency exchange, which enables customers to trade in cryptocurrencies such as Bitcoin, Ethereum, and other folks.
To be updated