ED searches 3 premises linked to CoinDCX, Delta Exchange in FEMA case
Detailed summary
The ED searched premises linked to CoinDCX and Delta Exchange over alleged unauthorised cross-border financial transactions involving crypto derivatives and tokenised stocks under…
The Enforcement Directorate (ED), Bengaluru, has conducted searches at three premises linked to cryptocurrency platforms CoinDCX and Delta Exchange over alleged unauthorised cross-border financial transactions involving crypto derivatives and Real World Asset (RWA) tokens.
In a post on X on November 6, the agency said the searches were conducted under the Foreign Exchange Management Act (FEMA), 1999. The searches took place on November 4 and 5 at premises linked to Neblio Technologies Pvt. Ltd., which operates CoinDCX, and Excelium Technologies Pvt. Ltd., which operates Delta Exchange India.
According to the ED, both platforms offered spot trading in cryptocurrencies, futures and options in crypto tokens, and trading in tokenised stocks of foreign companies. The agency is examining whether these activities involved unauthorised cross-border transactions.
The ED's preliminary investigation…
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