India's ED Searches CoinDCX, Delta Over Alleged Cross-Border Transactions

India's Enforcement Directorate (ED) searched locations linked to CoinDCX and Delta as part of an action over alleged unauthorized cross-border transactions, while CoinDCX said trading and withdrawals remained normal.

The ED's allegation concerns whether transactions crossing national borders were authorized. It is the conduct at issue in the searches involving both platforms.

CoinDCX said it is cooperating with authorities and is registered with FIU-IND. It also said it complies with India's foreign exchange management law, setting out the company's position on its regulatory status.

The company said trading, deposits and withdrawals remained normal. Those assurances describe CoinDCX's stated service status; the search action also included locations associated with Delta.

The action brings an enforcement allegation and a company response together: the ED raised the claim of unauthorized cross-border transactions, while CoinDCX pointed to registration, legal compliance and continued service. The registration and service statements are CoinDCX's account of its own status.