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Binance-owned exchange WazirX targeted by India’s government for alleged tax evasion

Tax authorities in Mumbai announced Friday that they had uncovered goods-and-services tax evasion by the Binance-owned crypto exchange WazirX. According to a statement from the GST Mumbai East Commissionerate of Mumbai Zone, “while investigating the business activities of cryptocurrency exchange WazirX have detected GST Evasion of Rs 40.5 Crores. The Commissionerate has also recovered Rs 49.20 Crores in Cash pertaining to GST evaded, interest and penalty.”  That amount equates to more than $6 million. WazirX was acquired by crypto exchange Binance …