Chanpeng Zhao denied the Binance connection with the Wazir Indian Bitcoin-Birzhi

Binance has never owned a share in Zanmai Labs, standing behind the Wazirx Indian platform. This was stated by CEO Bitcoin-Birzhi Chanpen Zhao.

2/ on 21 nov 2019, Binance Publined a Blog Post that it had “Acquired” Wazirx. This Transaction Was Never Completed. BINANCE HAS NEVER – AT ANY POINT – OWNED ANY SHARES of ZANMAI Labs, The Entity Operating Wazirx.

– Cz 🔶 Binance (@cz_binance) August 5, 2022

On November 21, 2019, the company announced the purchase of WAZIRX. According to the press release, from November 25, users from India could buy and sell digital assets for local currency through Binance.

“This deal never took place. Binance never – at any point – has not owned Zanmai Lab shares that controls Wazirx, ”Zhao emphasized.

According to him, the exchange provides the Indian site with a technical solution for the wallet. For other functions, including registration and KYC, Zhao called the responsible Wazirx and the company standing behind it.

In August 2022, the law enforcement department of the Ministry of Finance of India suspected WAZIRX of laundering $ 350 million. According to media reports, the regulator froze the exchange assets of $ 8.16 million as part of the case.

The investigation regarding the violation by the Platform of the Law on Management of Foreign Currency originally became known in June 2021.

Later, the media clarified that the authorities study the activities of applications managed by Chinese operators-some of the money was allegedly washed through bitcoin-foreign.

At the beginning of 2022, the platform was accused of tax evasion worth more than $ 6 million.

Recall that in July Reuters issued an investigation according to which Binance continued to serve customers from Iran, bypassing US sanctions and a ban on doing business in this country.

Representatives of the exchange for compliance with regulatory requirements denied the conclusions of journalists. They also noted that the company lost “about 90% of customers and billions of dollars of income” due to the introduction of KYC. Zhao later called this quote erroneous.

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