India’s Financial Intelligence Unit (FIU) has opened a fresh investigation into major crypto exchanges Binance and WazirX, centering on suspicious cross-border transfers traced back to Pakistan. Officials are particularly concerned about the potential misuse of unregulated crypto wallets to channel funds near sensitive regions, including Jammu and Kashmir.
The probe underscores growing regulatory scrutiny over digital assets and their possible exploitation for illicit financial flows. Both exchanges have faced compliance issues before, but this case raises fresh national security concerns as investigators dig deeper into transaction patterns and funding networks.
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