India Investigates 400 Binance Traders for Tax Evasion

India's Income Tax department is investigating over 400 high-net-worth Binance traders for potential tax evasion, reflecting the government's increasing scrutiny of the cryptocurrency market. This investigation follows Binance's recent reentry into Asia as a 'reporting entity' and raises concerns about compliance with crypto tax regulations, potentially impacting investor confidence and the operational strategies of crypto exchanges in the country.