Breaking: CoinSwitch Kuber Raided By Indian Enforcement Agency

In the wake of increased regulatory pressure on crypto companies in India, another cryptocurrency exchange became subject of scrutiny. On Thursday, India’s Enforcement Directorate began searching the premises of top Indian exchange CoinSwitch Kuber. The searches, as per a CoinDesk report, are in relation to the Indian Foreign Exchange Management Act (FEMA). The CoinSwitch Kuber raid is the second such incident this month in the Indian crypto ecosystem.