why indian government bans #Binance
đ© Binance is a Centralized exchange that ranks #1 on BitDegree Exchange Tracker. Binance has a trading volume of $9,406,012,588 in the last 24 hours and $4.81T in the last 7 days.
đ©Binance currently has 402 cryptocurrencies, 11 fiat currencies and 1591 markets (cryptocurrency trading pairs). The most popular trading pair on Binance is BTC/USDT.
đ© Customers can also access the Binance decentralized exchange (DEX) on the Binance Smart Chain.
đ© Binance dominates indian market, the global binance.com visitors are 11.08% are indians thats puts more jealous on indian exchanges.
đ© The gains made from trading cryptocurrencies are taxed at a rate of 30%(plus 4% cess) according to Section 115BBH.
đ© Section 194S levies 1% Tax Deducted at Source (TDS) on the transfer of crypto assets from July 01, 2022, if the transactions exceed âč50,000 (or even âč10,000 in some cases) in the same financial year.
đ© After binance ban most of indian users interested to indian exchanges so its a easy way collect government toll fee,
đ© Still RBI considers Bitcoin and other cryptocurrencies are scam and they buying that as well.
