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Finance challenges in Indian tax, show cause and Ronan pauses after a $9 million white hat hack.

This is Coin Desk Daily. I'm your host, Jen Sanasi.

Finance, the world's largest crypto exchange is challenging a nearly $86 million tax show cause notice from India's Directorate General of

Goods and Services Tax Intelligence. That's according to a source. The notice is a first

formal step taken by the authority when it suspects a violation of tax rules. It alleges

Binance collected fees from Indian customers trading on its platform. and the source said it relates to the period

from July 2017 to March 24. While the agency has taken action against Indian crypto exchanges

in the past, this could be the first time it has issued a show cause notice to an international one.

Crypto bridging service Ronan was paused earlier on Tuesday after $9 million in tokens

were drained from the platform in an apparent White Hat hack.

White Hat typically refers to an individual or entity that attacks or exploits software

to identify security vulnerabilities to fix issues or errors that could be exploited by

...