Binance, the largest crypto exchange globally, received a ₹722 crore ($97 million) GST demand from India's Directorate General of GST Intelligence (DGGI). This move is part of increased regulatory oversight on cryptocurrency exchanges in India, emphasizing the need for tax compliance. The action against Binance highlights the Indian authorities' efforts to ensure that crypto transactions are properly taxed, addressing potential tax evasion within the rapidly growing digital asset sector.