1 August 2026
Binance Gets Summoned By India’s Enforcement Directorate
Authorities of India are reportedly investigating Binance in connection with an ongoing Chinese money laundering case that swept more than $134 million (10 billion rupees).
The local media reported that India is reportedly investigating whether the global cryptocurrency exchange, Binance, had any role in a Chinese money laundering scheme involving betting apps. The country’s Enforcement Directorate (ED), a law enforcement agency under the Ministry of Finance, has Summoned Binance’s executives for interrogation. In addition, the case centers around betting apps run by the operators of China.
As per the source, within ten months, they swept over 10 billion rupees. They were suspected of laundering part of the money through WazirX, the local Indian Crypto Exchange that Binance had acquired in 2019. While responding to this news, Binance stated, “we did not receive any summons in June or July of this year. As per available info in the public domain, the summons was directed to only WazirX.” Adding further, Binance asserted, “we work closely with regulators, law enforcement, and industry leaders around the world to further the security and sustainability of the industry while providing the best services and protection to our users.”
Moreover, several regulators across the world have warned Binance about operating in their jurisdictions without being authorized. The regulators are from Malaysia, Japan, the U.K., Cayman Islands, Hong Kong, Lithuania, Germany, and Thailand. Emphasizing further, Changpeng Zhao, the CEO of Binance, said that they are looking for a CEO with strong compliance background as Binance aspires to be licensed everywhere and become a financial institution.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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