The Directorate of Enforcement (ED) is probing crypto change WazirX for alleged cash laundering actions to the tune of Rs 2,790 crore, mentioned Pankaj Chaudhary, Minister of State for Finance mentioned in Rajya Sabha on Tuesday.
As per a written reply by Chaudhary, ED is investigating two instances towards WazirX underneath the Foreign Exchange Management Act, 1999 (FEMA).
“In one of the cases, investigation done so far has revealed that one Indian Crypto-exchange platform, WazirX, operated by Zanmai Labs Private Limited in India was using the walled infrastructure of Cayman Island based exchange BINANCE. Further it has been found that all crypto transactions between these 2 exchanges were not even being recorded on the blockchains and were thus cloaked in mystery,” Chaudary was quoted by PTI as saying.
#ICYMI: DFS Superintendent Harris Announces $30 Million Penalty on Robinhood Crypto for Significant Anti- Money Laundering, Cybersecurity & Consumer Protection Violations. Read extra: https://t.co/TUD2SwmOcw
— NYDFS (@NYDFS) August 2, 2022
Meanwhile, the Superintendent of the Department of Financial Services (DFS) of New York, Adrienne Harris imposed a $30 million penalty on Robinhood Crypto, LLC (RHC) for failing to stick to New York State guidelines relating to financial institution secrecy act/anti-money laundering (BSA/AML) obligations and cybersecurity legal guidelines and laws.
Superintendent Harris mentioned in a press launch, “As its business grew, Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a culture of compliance—a failure that resulted in significant violations of the Department’s anti-money laundering and cybersecurity regulations.”
In different information, throughout Ethereum’s (ETH) 92nd consensus layer name, researcher Alex Stokes raised some issues a couple of doable MEV-boost failure, which may have an effect on the way in which relay operators talk with one another. Relay operators are the intermediaries between a blockchain’s block builders and its validators. However, this situation should not have any affect on the timeline of Ethereum Merge, Stokes mentioned in an interview to Coindesk.
Cryptocurrency Prices
The international crypto market capitalisation went up by 0.03 per cent to $1.06 trillion as of 8.50 am. The international crypto quantity was up by 5.05 per cent to $77.33 billion, based on Coinmarketcap knowledge.
Bitcoin (BTC), the world’s oldest cryptocurrency, was buying and selling at $22,793.19, decrease by 0.51 per cent within the final 24 hours. Ethereum (ETH) was up by 1.07 per cent to $1,608.50.
Among different important cash, Cardano (ADA) was down by 0.12 per cent at $0.4974, Algorand (ALGO) was buying and selling with a lack of 2.65 per cent at $0.3234, Solana (SOL) was buying and selling with a lack of 3.52 per cent at $38.69, Polkadot (DOT) fell 0.65 per cent at $7.83 and Binance Coin (BNB) was down by 1.96 per cent at $281.91.
Today’s high gainer was Cronos (CRO), which was up by 16.39 per cent at $0.1588. The high loser was Chiliz (CHZ), which was down by 12.97 per cent at $0.1337.
Meme Coin And DeFi Prices
Dogecoin (DOGE) was down by 1.35 per cent at $0.06621. Its quantity to market cap ratio stands at 0.03919. Rival Shiba Inu (SHIB) rose 0.76 per cent to $0.00001169.
Dogelon Mars (ELON) was down by 1.62 per cent to commerce at $0.0000003258, Floki Inu (FLOKI) fell 1.29 per cent at $0.00001557, and Samoyed Coin (SAMO) fell 2.02 per cent at $0.01289.
In the DeFi phase, YFI (yearn.finance) was down by 4.14 per cent at $10,611.12. Terra Classic (LUNC) was buying and selling with a acquire of 1.25 per cent at $0.00009967, Avalanche (AVAX) was up by 0.35 per cent at $22.67, Uniswap (UNI) was buying and selling with a acquire of three.85 per cent at $8.20, and Aave (AAVE) rose 2.04 per cent at $93.53.
