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India’s ED Investigates CoinDCX and Delta Exchange
The Enforcement Directorate (ED) in India has initiated an investigation into CoinDCX and Delta Exchange over their alleged overseas crypto dealings. The investigation focuses on suspected cross-border transactions, derivatives trading, and tokenized stock products offered to Indian users. Searches were conducted at premises linked to both exchanges in Bengaluru, including Neblio Technologies Pvt. Ltd. and Excelium Technologies Pvt. Ltd. The ED is examining whether funds deposited by Indian customers were routed to foreign platforms for crypto trading and settlement, and if the exchanges used customer funds for overseas transactions without regulatory approvals.