India's federal Enforcement Directorate (ED) on Monday has returned WazirX access to its bank account after the local authorities had begun investigation against the exchange over alleged violation of foreign exchange regulations.
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As per a report from a local news media News 18, the regulator made this step due to the "active cooperation extended by WazirX." The authorities added:
"WazirX is now in a position to continue its banking operations as usual."
In early August, the ED blocked WazirX's banking account with over $8 million as part of the investigation. The regulator alleged that the crypto exchange assisted instant loan app companies in laundering the proceeds of crime.
WazirX said in a blog post it had clarified it had no association with "any of the alleged accused fintech and instant loan app entities which appear to be the subject of ED investigation."
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