why indian government bans #Binance

🟩 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.

🟩Binance currently has 402 cryptocurrencies, 11 fiat currencies and 1591 markets (cryptocurrency trading pairs). The most popular trading pair on Binance is BTC/USDT.

🟩 Customers can also access the Binance decentralized exchange (DEX) on the Binance Smart Chain.

🟩 Binance dominates indian market, the global binance.com visitors are 11.08% are indians thats puts more jealous on indian exchanges.

🟩 The gains made from trading cryptocurrencies are taxed at a rate of 30%(plus 4% cess) according to Section 115BBH.

🟩 Section 194S levies 1% Tax Deducted at Source (TDS) on the transfer of crypto assets from July 01, 2022, if the transactions exceed ₹50,000 (or even ₹10,000 in some cases) in the same financial year.

🟩 After binance ban most of indian users interested to indian exchanges so its a easy way collect government toll fee,

🟩 Still RBI considers Bitcoin and other cryptocurrencies are scam and they buying that as well.