India's Enforcement Directorate: Searches CoinDCX and Delta-related locations, accusing them of unauthorized cross-border transactions

On November 4th to 5th, the Enforcement Directorate (ED) Bangalore division conducted searches at three locations related to CoinDCX and Delta Exchange under the Foreign Exchange Management Act (FEMA 1999). The ED accused the two platforms of engaging in large-scale unauthorized cross-border financial transactions involving cryptocurrency derivatives and RWA token trading, with the scale of related cross-border transactions reaching hundreds of billions of rupees.