Crypto Exchange WazirX revealed that during the April-September period this year, it received 377 user account requests from law enforcement agencies (including 38 from foreign agencies). All of the legal information requests received were criminal and its consent rate for more than 377 requests was 100 percent.
Crypto Exchange locked 14,469 accounts at the time mentioned above.
WazirX said in its first statement, “Ninety percent of these activities were conducted by users (requests to close customer accounts) and 10 percent were initiated by our legal team, who had to lock the relevant accounts due to ongoing payments disputes or ongoing LEA cases.” Never report transparency.
According to a recent NASSCOM report, the cryptotech industry in India has grown by 39 per cent in the last five years. Globally, the cryptocurrency industry will reach 1 241 million by 2030 and 3 2.3 billion by 2026.
“Initiatives like the Transparency Report add to the credibility of the ecosystem and make the crypto world more attractive to outsiders. Our goal is to look at big goals, such as positive rules, and consider paving the way for ourselves through innovative approaches. ”
WazirX is part of the Binance Group, the world’s largest crypto exchange, serving users in 180 countries.
More than $ 6.6 billion has been invested in crypto assets by retail investors in India. The industry employs 50,000 people in India, including more than 230 startups and evidence of more than 150 ideas and projects.
Since blockchain is one of the game-changing technologies, WazirX has launched ‘Blockchain Papers’ (BP), one of the first blockchain research and analysis platforms in India, with an idea to increase the visibility of the platform and increase the number of users.
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