Indian traders could use rupees to open positions tied to Bitcoin or Tesla. The Enforcement Directorate wants to know who placed the corresponding trades abroad, how those positions were funded and whether the exchanges followed India’s foreign exchange rules.
Summary
- The Enforcement Directorate searched three Bengaluru premises linked to CoinDCX and Delta Exchange India on 4 and 5 November in a foreign exchange investigation.
- The agency alleges that CoinDCX used USDT and offshore accounts to execute spot orders and open corresponding crypto derivatives positions on overseas platforms.
- CoinDCX says the visit to its office was a routine enquiry, it complies with FEMA, and…
