Instead of going about all the current state of crypto and how difficult we are finding it to trade as well as the profits being taken from us as part of taxes and other things. Though one good thing about all this is that crypto is still not illegal in India and thus there are exchanges which allow you to buy crypto with your fiat money.

![image.png](https://images.hive.blog/DQmUcwPx6kQLsdjsG4ZTteaWXskfkhgNFYCEzcL4hvUSbPQ/image.png)

One of the problems I am seeing with the Crypto world is that there are no reliable Crypto exchanges in India. There was one WazirX, but again the Enforcement Directorate (ED) had raided WazirX and freezer the bank assets worth Rs 64.67 crores and now all these are the money of the investors which is sitting with the ED.

The problem is Government of India has banned instant loan companies which are illegally doing business in India and they think now they are using the WazirX platform to do the same things. So ED has taken action against WazirX Director for assisting these loan companies in laundering money via the purchase and transfer of virtual crypto assets.

The biggest shock to Indian crypto users came when Binance (which was supposed to be the parent company of WazirX, as per the news of acquisition), denied that they do not own WazirX and then followed a number of tweets from each WazirX and Binance accusing each other of running away from responsibility.

![image.png](https://images.hive.blog/DQmXXaPbuM9sFabBW8yD2xSCf6pFTPLYiUon2o3MVZm23K9/image.png)
PC: Twitter.com

There was a blog post dated 2019, which clearly said that [Binance has acquired WazirX](https://www.binance.com/en/blog/all/binance-acquires-indias-leading-digital-asset-platform-wazirx-to-launch-multiple-fiattocrypto-gateways-404105749895733248).

![image.png](https://images.hive.blog/DQmeE9TpcALzNxzKkNxzjmEcjddN4VYFUaW9dMptvvbJBo2/image.png)
PC: Twitter.com

Both the CEOs have used Twitter to claim ownership of the WazirX and put the responsibility on each other but no one is thinking about the poor investors whose money has been locked because of these things.

We do not know who is telling the truth and who is not but what we know is that this is the current state of crypto in India where we do not have a good exchange as well as a crypto-friendly government.




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