WazirX-Binance Rift: 5 Things Cryptocurrency Investors Should Know

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By Mohammed Kudrati A search by the Enforcement Directorate [ED] on Zanmai Labs – the operating entity of cryptocurrency exchange WazirX – under money laundering provisions has soured relations between the exchange and its larger peer Binance, with whom it had announced a partnership and an acquisition deal in 2019. The search also corresponded to the ED freezing Zanmai’s bank account with ₹64.67 crore in it. In the latest development in the saga on August 8, Binance announced that it would not support off-chain fund transfers between the exchanges. Off-chain transfers are not facilitated by t…

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