India Investigates Over 400 Binance Users for Crypto Tax Evasion

India’s tax authorities have launched a probe into over 400 high-net-worth individuals suspected of evading cryptocurrency taxes through the use of Binance, the world’s largest cryptocurrency exchange. The investigation, led by the Central Board of Direct Taxes (CBDT), focuses on transactions between 2022 and 2025 and aims to understand how these traders avoided India’s stringent crypto tax framework.