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News related to Crypto / Re: Binance Could Come Back to India by Paying $2M Fine: Report
« Last post by Zed0X on Today at 02:50:17 PM »This makes sense. The small fine is like an open trap that's laid out and it's up to Binance if they want to take it or not. I have not read how centralized exchanges will be taxed in India but considering how the Government charges individual investors on their crypto gains, it has to be a significant amount too.$2 million is small amount for Binance, so it's not surprising they simply decide to pay the fine. IMO it's also possible they lose more money due to ban by India early of this year. Your opinion is greatly appreciated.Surely, that is also my first impression as $2 million for Binance is nothing with the big potential of the Indian market for cryptocurrency. However, if they will be back in India and be legally operating under the regulatory power of the government, I am sure that there will be changes and that they would be strictly require to impose tax and must remit them to the government so that things will be smooth and above board.