Why Binance WazirX Investigation Matters for Cross-Border Crypto

As highlighted by Money Control, FIU officers are digging through BNB data to track who’s moving crypto into private wallets from Pakistan. Since these wallets don’t sit on an exchange, they’re hard to trace, and that’s exactly what worries authorities. Crypto can easily jump borders in seconds, making it tough to catch bad actors before it’s too late.

Source: X ( Binance WazirX Investigation)

Singapore Court Date Adds More Trouble

The timing is awkward for this Indian cryptocurrency exchange. Just recently, its parent firm, Zettai, argued it didn’t need FIU-IND registration, but now the same regulator is investigating them for possible cross-border misuse ( Binance WazirX Investigation) . All eyes are on a crucial Singapor e court hearing on July 15, which could decide if its users legally own their coins or not. This follows the filing of a 72-page affidavit by Romy Johnson, claiming that ISIS operations were connected to the wallets through TRX token transactions to a recipient in Syria.

Users Demand Proof and Answers

Meanwhile, Their own community is demanding straight answers from founder Nischal Shett y. Users want to see Proof of Reserves, learn about who the multisig wallet keys belong to, and get some sense of ₹364 crore of related-party transactions and ₹920 crore of enigmatic revenue . A ltogether, that’s ₹1,284 crore that people want explained, but so far, official answers are missing.

This new probe might push India to tighten crypto rules again. While digital coins make borderless payments fast and cheap, they also open the door for misuse if platforms aren’t transparent. Both exchanges are under inquiry for now, and traders are watching closely to see what happens next. ( Binance WazirX Investigation)