Indian law enforcement has demanded $91.9 million (772 crore Indian rupees) in unpaid taxes from crypto exchange Binance.

Binance and many other offshore crypto exchanges were banned in India in January 2024 for failing to comply with local regulations. However, in April, Binance announced its intention to resume crypto trading operations in the region after paying the pending taxes.

On August 6, the Directorate of Goods and Services Tax Intelligence (DGGI) of India demanded around $92 million from Binance under the Goods and Services Tax (GST), according to The Times of India.

This is the first tax demand by the Indian government against any crypto exchange.

This is a developing story and more information will be added as it becomes available. Share your thoughts in the comments.