WazirX, a cryptocurrency exchange, has replied to claims that its co-founders were relocating to Dubai with their families due to high crypto tax and regulatory uncertainty in India, saying that the company is operating as usual.
The major crypto exchange in India responded to the reports by stating that it is a remote-first organization with headquarters in Mumbai and that staff are allowed to work from anywhere. The exchange further stated that it is developing for India and the rest of the world.
“We are a remote-first organisation with employees from over 70+ locations. This gives all the company employees the option to work from anywhere, subject to their comfort and convenience unless they are required to travel officially. WazirX is headquartered in Mumbai, and there is no change in any of our operating procedures. It is business as usual,” WazirX said in an official statement.
WazirX co-founders Nischal Shetty and Siddharth Menon had shifted base to Dubai with their families
Meanwhile, Menon revealed on Tuesday that his team has been working on a “critical” app feature that would be released soon. He stated that the function is currently being tested and that users will enjoy it.
WazirX made Highstreet (HIGH) token deposits live on the platform on Tuesday. Binance allows users to deposit HIGH for free.
WazirX is the 45th largest worldwide crypto exchange and the largest in India, according to CoinMarketCap.
In India, cryptocurrency exchanges have been subjected to a shadow ban, with banking partners refusing to support INR deposits. Several exchanges have temporarily halted INR deposits made through UPI and other banking methods.
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