India's Enforcement Directorate (ED) conducted searches at three premises linked to CoinDCX and Delta Exchange on November 4–5 under the Foreign Exchange Management Act (FEMA 1999). The Bengaluru division of the ED alleges both platforms were involved in large-scale unauthorized cross-border financial transactions. The alleged violations cover crypto token derivatives and real-world asset (RWA) token trading, with cross-border transaction volumes reportedly amounting to hundreds of billions of rupees.