ED issues ‘crypto withdrawals’ Notice Against WazirX; Why it is critical for Indian ecosystem?

Indian regulatory watchdog Enforcement Directorate (ED) issued a notice against India’s largest crypto exchange WazirX asking them why withdrawals from the crypto wallet are not a violation of India’s Foreign Exchange Management Act (FEMA), as per a report in ET. The notice from the financial watchdog comes at a crucial juncture in terms of crypto The post ED issues ‘crypto withdrawals’ Notice Against WazirX; Why it is critical for Indian ecosystem?