The regulatory watchdog has issued a notice to WazirX, India's largest crypto exchange. The note inquires about the legality of cryptocurrency withdrawals from one wallet to another. Previously, crypto exchanges in India were suffering due to banks' unwillingness to supply their services. Several countries around the world are now working hard to comprehensively regulate the crypto market. The ED's warning to WazirX might stymie the Indian crypto ecosystem's growth, which has prospered despite regulatory uncertainty.