Indian authorities have accused the WazirX exchange of tax evasion
Other cryptocurrency platforms will also be investigated
04.01.2022 - 07:15
201
1 min
0
What’s new? According to the press service of the Indian government, the country has launched an investigation into a number of cryptocurrency exchanges. In particular, the platform in question is WazirX, owned by Binance.
The full version of the press release
What is WazirX being accused of? According to the authorities, the exchange was evading goods and services tax. The total amount, including fines, has so far exceeded $6 million. However, the exchange’s representatives consider the charges unfounded and assure the timely payment of all required taxes.
According to the press release, the investigation is a part of a larger plan by the authorities to crack down on tax law violations. Similar measures will be taken against all cryptocurrency exchanges operating in India. There is no word yet on possible sanctions against the WazirX platform.
Useful material?
Market
Users who have experienced withdrawal problems in the last two days will be eligible to participate
Mar 28, 2024
Market
Last July, a criminal investigation into the exchange was opened by the US authorities
Mar 27, 2024
Market
The unrealized profit from the deal was $8,9 million
Mar 26, 2024
Incidents
The phasing out began on March 25
Mar 25, 2024
Crypto regulations
The new measures must go through additional stages of approval
Mar 25, 2024
Incidents
The popularity of this kind of project launch format has already led to blockchain overload
Mar 20, 2024