India’s ED raids CoinDCX and Delta Exchange India over offshore trade routing

India's Enforcement Directorate searched three premises tied to Neblio Technologies, CoinDCX's parent, and Excelium Technologies, which runs Delta Exchange India, alleging the exchanges routed users' trades to Binance, Bybit and other offshore platforms. The searches took place between Nov. 4 and the reported date. Traders should watch for potential restrictions on Indian exchange access to offshore liquidity, which could hit volumes and BNB-linked flows.