News Snapshot:
An Indian law enforcement agency has arrested Naisar Kothari, a cryptocurrency trader, for his role in a money-laundering scheme linked to online Chinese betting scams. The arrest was made after the country’s Enforcement Directorate (ED) detected large amounts of money “being inexplicably transferred to some cryptocurrency traders.†In addition to Kothari’s arrest, the ED conducted multiple raids on companies and individuals thought to be running illegal online betting apps. The ED believes the online apps, which are hosted outside India, are being operated by Chinese nationals. In its report detailing the action against Kothari, one Indian media outlet states that...
