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India Probes Crypto Use in Terror Financing Linked to Pakistan

2025-07-14 08:36:23

Main Idea

India is investigating the use of cryptocurrencies in terror financing linked to Pakistan, focusing on unregulated wallets and exchanges, while also reviewing its crypto framework to align with international standards.

Key Points

1. India's investigation targets crypto fund movements linked to cross-border activities, particularly in the volatile Jammu & Kashmir region.

2. The probe focuses on Binance and unregulated wallets operating outside licensed exchanges, which are suspected of facilitating illicit transactions.

3. WazirX, an Indian-founded crypto exchange, is facing a separate legal battle in Singapore, with a crucial hearing scheduled for July 15.

4. Crypto transfers in India are linked to extremist activity, with TRX tokens allegedly used by handlers in Pakistan to fund militant activities.

5. India's crypto trading volume reached $1.9 billion in late 2024, reflecting rapid adoption, while Pakistan ranks among top global adopters with 15–20 million crypto users.

Description

India’s Financial Intelligence Unit (FIU) has launched a probe into crypto-based terror financing The investigation is focused on suspicious cross-border transactions involving Pakistan and the Kashmir region Major exchanges like Binance are being scrutinized for their role in facilitating transfers to private wallets India’s Financial Intelligence Unit (FIU) has launched an in-depth investigation into cryptocurrency fund movements linked to cross-border activities. The focus is on suspicious tr...

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