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>>Indian authorities are investigating around 400 Binance users suspected of failing to pay cryptocurrency taxes.

Indian authorities are investigating around 400 Binance users suspected of failing to pay cryptocurrency taxes.

crypthub

1 day ago

Investigation into Binance Traders

Indian tax authorities are investigating over 400 high-net-worth individuals suspected of evading steep crypto taxes through Binance. The probe focuses on transactions between 2022 and 2025, including peer-to-peer trades. Authorities are scrutinizing methods used to conceal taxable income, such as settlements using local bank accounts and digital payment platforms.

Binance and Regulatory Scrutiny

Binance faced a previous ban in India and later re-entered the market after paying a fine and registering as a reporting entity. This registration has reportedly facilitated the ongoing tax probe. The exchange now confronts heightened regulatory pressure amid broader challenges in other markets, including token depegs.

Related Cases and Enforcement Actions

Recently, 14 individuals received life sentences for kidnapping and extorting a crypto investor. Additionally, the Enforcement Directorate raided locations linked to a global crypto fraud scheme, targeting those posing as law enforcement. These actions underscore increased government scrutiny of digital assets in India.