Synopsis
This is not Binance’s first tryst with the Indian market. While Binance wants the piece of India’s crypto pie, it is facing unique challenges that could complicate its India success story. How far is the company willing to go for the Indian market?
Chandan (name changed), a Binance user, was not sure what to make of the global exchange’s India entry. He was one of the many who switched to global exchange like Binance when TDS came into effect in July 2022, which did not collect taxes for crypto transactions. At that time, Binance became one of the beneficiaries. The platform’s downloads doubled those of its Indian counterparts in August 2022 to 4.25 lakh. According to three sources,
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