Zanmai Labs Private Limited, the apex of Indian cryptocurrency exchange WazirX, said that they did not engage in any illegal activities and took no chances.
WazirX, one of India’s largest cryptocurrency exchanges by volume, is breaking the law, according to the Indian Enforcement Directorate (ED). WazirX has been under scrutiny ever since currency breach cases began to be investigated. In the statement made by the company, it was stated that there was no illegal activity.
WazirX’s Policy No Illegal Activities
Zanmai Labs Private Limited, which operates WazirX, which is under scrutiny, said in a statement Tuesday; He said users are using the exchange in accordance with applicable laws. It also explained that they have a policy that does not tolerate any illegal activity.
The company also stated the following in its statement:
“The Executive Directorate of India appears to be investigating the transactions of certain users and Zanmai Labs has no affiliation with these users and is unaware of the purpose of their transactions. We can generate the KYC (know-your-customer) details of the relevant user for each transaction. We do not accept cash transactions.”
WazirX said that KYC details are also available for all off-chain transfers, and law enforcement can get complete information about the accounts involved in off-chain transfers.
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