Cryptocurrencies
India Said to Probe Binance in Betting App Laundering Probe
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India’s anti-money laundering agency is examining if Binance Holdings Ltd. had a role to play in an ongoing investigation involving betting apps, according to people with knowledge of the matter.
The Enforcement Directorate has summoned Binance executives for questioning and is awaiting a response, the people said, asking not to be identified as the matter is under investigation. India is probing betting apps run by Chinese operators, which collected more than 10 billion rupees ($134 million) over the past 10 months, for allegedly laundering part of the money through the WazirX cryptocurrency exchange. Binance acquired WazirX in 2019.