ED allows WazirX to resume banking operations

In a relief to Indian crypto exchange WazirX, the Enforcement Directorate (ED) unfroze its bank accounts.
WazirX communicated in a blog post on Monday that it is now in a position to continue banking operations as usual, over a month after the ED froze its bank accounts to inspect money laundering cases. WazirX said it has cooperated with investigators providing all necessary details, information, and documents of the accused companies who used its platform.
The ED is investigating 16 fintech companies and instant loan apps, including WazirX.
The Binance-linked company’s assets worth Rs 64.7 crore were frozen after the central agency suspected that the crypto exchange assed instant loan app companies in laundering the proceeds of crime converting them into cryptocurrencies on its platform. A number of fintech companies were involved in illegal lending practices that were backed Chinese funds, the ED had said.  FE