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Binance Challenges $86M Indian Tax Showcause Notice

By FXCOINZ Editorial

06/08/2024

Binance is contesting an $86 million showcause notice issued by Indian tax authorities, alleging non-compliance with Goods and Services Tax (GST) regulations. The exchange asserts that its operations comply with local laws and is engaging in discussions with authorities to resolve the issue. This development highlights the complex regulatory landscape for cryptocurrencies in India and could significantly impact the local crypto market.