WazirX to Phase In Indian Rupee Withdrawals Starting Aug. 26

Indian crypto exchange WazirX has announced that it will re-enable rupee withdrawals on the platform. However, the rupee withdrawal services will be reintroduced in a phased manner with users getting access to withdraw 66% of their INR balances on the exchange over the next month.

Specifically, the exchange said its customers could withdraw half the limit (33%) from Aug. 26 to Sept. 8 and the remainder (33%) from Sept. 9 to Sept. 22.

The company stated that it had to continue keeping the remaining 34% of their INR balances frozen due to investigations by law enforcement agencies. The timeline for the release of those frozen balances is unclear.

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