During the period from October to March, WazirX, the leading cryptocurrency exchange in India by trading volume, reported receiving approximately 1,700 investigative requests from both domestic and international law enforcement agencies.
On Tuesdays, WazirX’s latest Transparency Report unveils a perfect record in addressing data requests, as indicated in the document. The report discloses that the company responded to each request within an average of merely twenty-two minutes.
This data reveals not only the business’s effectiveness in responding to law enforcement inquiries, but also highlights its latest actions demonstrating commitment to regulatory compliance.
In the past six months, the trading volume at WazirX experienced a significant increase of 217%, and there was a notable rise of 122% in new user registrations. The platform reached an impressive trading volume of approximately USD 400 million in March 2024, setting a new record. On the other hand, December 2023 saw the highest number of sign-ups.
WazirX increases the selection of tokens and adds 30 new trading pairs. The responsive customer service team handled over 158,900 queries, demonstrating their commitment to ensuring customer satisfaction.
WazirX reaffirms its dedication to following regulations in the trading of Virtual Digital Assets (VDAs), focusing on security. The platform proactively works with law enforcement and regulatory bodies to establish a framework that supports the VDA market.
Rajagopal Menon, Vice President of WazirX, emphasized their commitment to ensuring user security and fostering innovation within India’s Virtual Digital Asset (VDA) ecosystem.
At WazirX, we prioritize protecting users and promoting advancements in India’s Virtual Digital Asset (VDA) ecosystem. Our recently released transparency report underscores this dedication. By actively collaborating with regulatory bodies, law enforcement, industry groups, and key players, we strive to create favorable regulations that unleash the revolutionary capabilities of blockchain and cryptocurrencies in various industries.
Moving ahead, we will keep enhancing our security measures, collaborate with lawmakers to establish an effective regulatory system, and encourage education about cryptocurrencies.
Moving forward, WazirX plans to strengthen its security protocols, collaborate with lawmakers to establish a suitable regulatory framework, and foster education among users regarding cryptocurrencies.
In addition to following rules, the organization provided training to members of the Joint Cyber Crime Coordination Teams from the Northeast region of Assam Police and I4C under the Ministry of Home Affairs, enhancing their understanding of crypto security aspects.
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2024-04-23 19:00