Binance Fights Back: The $86M Tax Standoff with India's DGGI Revealed
In the rapidly expanding world of digital finance, binance, the globe's leading crypto exchange, finds itself in a significant legal tussle with Indian financial authorities The crux of the dispute lies in a hefty tax notice, pegged at nearly $86 million, dispatched to the crypto behemoth by the Directorate General of Goods and Services Tax Intelligence (DGGI), a pivotal arm within India's Ministry of Finance This development marks a pivotal moment in the ongoing dialogue between cryptocurrency entities and regulatory frameworks across jurisdictions The notice served to binance is not just a routine procedural step; it highlights a deeper examination into the operations of international crypto exchanges within India's fiscal domain Specifically, it brings to light the transactions involving Indian customers from July 2017 to March 2024, spotlighting the regulatory glare under which the crypto industry operates...
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