WazirX Takes Significant Steps for Crypto Adoption in India
WazirX Announces Partnership with SonyLIV
WazirX, the Bitcoin trading platform of India, has entered into a partnership contract with SonyLIV to be the co-presenting sponsor at UEFA EURO 2020 that will begin to be live-streamed at SonyLIV from June 11, 2021. According to the WazirX review, the Indian Bitcoin exchange platform has the highest level of liquidity that is evident from the monthly trading volume of over $6.2 billion. With over six million registered users, the WazirX platform is striving hard for the mainstream adoption of Bitcoin in India by spreading awareness about cryptocurrency investment in India.
The exclusive partnership with SonyLIV shall provide the platform of WazirX with nationwide visibility among the Indian football fans, most of whom are young and tech-savvy crypto enthusiasts. The partnership’s main objective is to spread brand awareness of WazirX to make cryptocurrencies like Bitcoin and Ethereum accessible all over India. WazirX is the most reliable crypto exchange forum in India. It allows instant deposits and withdrawals in fiat currency and enables users to engage in crypto trading with only a few clicks. The platform offers more than 200 trading pairs and provides a Smart Token Fund for efficient crypto portfolio diversification. Get more details about the crypto exchange in India here.
WazirX hasn’t received the ED notice yet
The Enforcement Directorate is investigating under the supervision of FEMA to probe into the cryptocurrency transactions of INR 2790.74 crore that took place at WazirX. The ED made a statement at the press meet that it has issued a show-cause notice to the directors of WazirX, Sameer Mhartre, and Nischal Shetty, according to the FEMA Act. However, the Co-Founder of the Indian crypto exchange platform, Nischal Shetty, declared that they have not received any notice from ED yet.
The directors of WazirX maintain that the platform operates completely in compliance with India’s existing laws and regulations. WazirX even takes extra precautions by making it mandatory for every user to register with KYC documents for authentication. WazirX also abides by the anti-money laundering protocol by providing the right information to law enforcement bodies whenever required. Every user is registered with government ID proof documents at the platform of WazirX, and therefore all of them are easily traceable based on the identity information. As such, WazirX is prepared for full cooperation with the ED should they receive a show-cause notice to investigate transactions.
