Indian Authorities to Question Binance on Laundering of Betting Proceeds: Report

Nasdaq

Authorities in India are investigating whether Binance’s WazirX was used in a money-laundering operation related to betting apps that have collected more than $134 million in the past 10 months, Bloomberg reported Friday.

  • The country’s anti-money laundering agency, the Enforcement Directorate, wants to question Binance executives and is awaiting their response, Bloomberg said, citing unidentified people with knowledge of the issue.
  • The Enforcement Directorate is investigating Chinese-operated betting apps that allegedly laundered some of these funds through the Binance-owned crypto exchange.
  • Binance did not immediately respond to CoinDesk’s request for comment.

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Author: CoinDesk


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