Stressing that Changpeng Zhao-run Binance is co-operating Nischal Shetty-run crypto platform WazirX, its parent company Zanmai Labs said on Tuesday that it has fully cooperated with the Enforcement Directorate (ED) after it raided its premises and froze bank assets worth Rs 64.67 crore. Amid the controversy over Binance and its association with WazirX that has over 15 million users on its platform, Zanmai Lab said in a statement that “WazirX is a platform co-operated by Zanmai Labs Pvt. Ltd. (Zanmai Labs) and Binance”. , Also Read WazirX says it is compliant with KYC law “We have fully cooperated with the ED for several days and have responded to all their queries fully and transparently. ED appears to be investigating the transactions of certain users and Zanmai Labs has no affiliation to such users and is unaware about the purpose of their transactions,” said the company. After the ED raids on Zanmai Labs, Binance first disowned WazirX, and then said that it is removing the off-chain fund transfer channel between WazirX and Binance. Zanmai Labs said that there seems to be a major misunderstanding about off-chain transactions between WazirX and Binance. “Off-chain transactions between WazirX and Binance can only be done… Read full this story
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