Enforcement Directorate raids offices of CoinSwitch Kuber
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The Enforcement Directorate on Thursday raided the offices of cryptocurrency exchange CoinSwitch Kuber for alleged violations of the Foreign Exchange Management Act. A spokesperson for the exchange underplayed the raid, saying, “We receive queries from various government agencies. Our approach has always been that of transparency. Crypto is an early stage industry with a lot of potential and we continuously engage with all stakeholders.”