No-tolerance policy on illegal activities: Crypto exchange WazirX

With the Enforcement Directorate (ED) pulling up crypto exchange WazirX and freezing its bank assets, the company on Tuesday came out with a statement, saying that it has a no-tolerance policy towards illegal activities.

“WazirX is a platform co-operated by Zanmai Labs Pvt. Ltd (Zanmai Labs) and Binance. Zanmai Labs has a no-tolerance policy towards illegal activities using WazirX. Users agree (in the user agreement) to use WazirX in accordance with applicable law. Users are signed up on WazirX only after they complete the KYC process, including submitting proof of address and identity,” said the company in a statement.