Wu learned that on November 6, the Indian Enforcement Authority (ED) announced that, pursuant to the Foreign Exchange Management Act (FEMA), it had raided three locations related to the cryptocurrency trading platforms CoinDCX and Delta Exchange, investigating large-scale unauthorized cross-border transactions involving cryptocurrency derivatives and the RWA token. The ED alleges that CoinDCX converted Indian rupees deposited by users into USDT, executed trades through offshore accounts on exchanges such as Binance, KuCoin, and Bybit, and provided foreign stock-related derivatives trading through Hyperliquid, with the total scale of these cross-border transactions reaching hundreds of billions of rupees. The ED also alleges that a large number of derivatives trades on Delta Exchange were transferred to offshore platforms via CoinDCX for execution. The investigation is ongoing, and the allegations have not yet been definitively established by law. https://(wublock123.com)/news/india-raids-coindcx-delta-exchange-cross-border-crypto-derivatives-71509