WazirX complied with all 377 information requests by law enforcement agencies from April to September 2021, the India-based crypto exchange revealed in its first transparency report released on October 14. An estimated 339 information requests were from Indian agencies, and all the requests were related to criminal proceedings such as "fraud, kidnapping and narcotics," the report stated. The company also blocked 14,469 accounts, 10% of which were due to payment disputes or ongoing criminal investigations. As the Indian government mulls regulations for cryptocurrencies, platforms like WazirX are eager to comply with law enforcement and stay out of trouble. In the process, however, they might end up undermining the high privacy standards commonly associated with crypto transactions. What the WazirX transparency report reveals Aside from outlining the nature and quantity of law enforcement requests, the first transparency report also revealed several other initiatives by WazirX, as well as the company's vision for cryptocurrencies going forward: Legal compliance: WazirX received a total of 377 government requests in the six-month period from April to September. 339 of those were from India, and 38 from foreign law enforcement agencies. All requests were related to criminal proceedings, and WazirX complied with all such requests. Blacklists: WazirX locked 14,469 accounts in the last six months. 90% of these were because customers requested that their accounts be closed. 10% of the blocks, which is roughly 1,500 accounts, were undertaken by WazirX for "payment disputes or ongoing investigation for LEA [law enforcement agency] cases." Not a fiat replacement: In the report,…
