Changpeng Zhao, crypto platform Binance’s CEO, is serious about securing its position in the Indian market for crypto trading owing to a shift in the tax structure in India.
Binance currently has an edge over its competitors in the Indian market because it doesn’t include the high taxes or difficulty in moving money in and out of the trading platforms.
The number of downloads of the Binance app in India has increased to 429,000 in the month of August.
It has been the highest this year and is close to triple that of the second-ranked CoinDCX, according to data from market intelligence firm Sensor Tower.