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CoinSwitch has initiated legal action against WazirX to recover trapped funds, according to reports. Concurrently, the Indian cryptocurrency exchange Mudrex secured a court order mandating the Indian government to shut down 38 websites that were exploiting its brand for fraudulent activities. In a broader regulatory effort, the Indian government has removed the cryptocurrency exchanges Bybit, Bitget, and Bitmart from the Play Store. This move is part of a significant crackdown on offshore crypto exchanges that have not complied with local regulations, particularly concerning the Prevention of Money Laundering Act. These developments reflect India's increasing scrutiny of the cryptocurrency sector amid rising concerns over scams and regulatory compliance.
The Indian #cryptocurrency exchange Mudrex obtained a court order that will direct the Indian government to take down a number of scam websites misusing its name and brand, per its CEO and a report by crypto outlet CoinDesk. https://t.co/zbt8nJDfMM
INDIA BANS BYBIT, BITGET, BITMART Bybit, Bitget, and Bitmart have been booted from the Play Store by the Indian government, marking a serious crackdown on crypto exchanges dodging the country’s regulatory requirements. Citing failures to comply with the Prevention of Money… https://t.co/tAclzeChfu
INDIA SWEEPS BYBIT, BITGET, BITMART OFF THE PLAY STORE IN CRYPTO CRACKDOWN India has removed the crypto exchanges Bybit, Bitget, and Bitmart from the Play Store. This action is part of a broader crackdown on offshore crypto exchanges. These platforms failed to comply with… https://t.co/VE8AoUIRVi
