ED said to probe crypto exchange Binance’s role in betting app laundering

India’s anti-money laundering agency is examining if Binance Holdings Ltd. had a role to play in an ongoing investigation involving betting apps, according to people with knowledge of the matter.

The Enforcement Directorate has summoned Binance executives for questioning and is awaiting a response, the people said, asking not to be identified as the matter is under investigation. India is probing betting apps run by Chinese operators, which collected more than Rs 1,000 crore ($134 million) over the past 10 months, for allegedly laundering part of the money through the WazirX cryptocurrency exchange. Binance acquired WazirX in 2019.

However, a Binance spokesperson said the exchange had not received any summons in June or this month. “We have always been a proactive player in fighting crime,” the spokesperson said.