Binance became FIU compliant recently then how can the government ask for user details of Tax evasion when the law is meant for suspected financial transactions. Above all Binance was never under the jurisdiction of the government of India as it never had any office in India. After this they will need an office in India and have to provide any details the government requires from them.
As @Bureau said, we don't know what are the terms Binance agreed to when they decided to come back and it's just speculation. And government authority might have all the rights to ask about the user data as long as they are the residents of India, cause India imposed the 30% tax on VDA in 2022 so they have every reason to go after who didn't pay their taxes prior they became FIU compliant.
You are right about the part where you said the government of India imposed tax in 2022. That being said Binance was never asked for any data by the government in 2023, only in 2024 they were accepted the government regulations. Basically, Binance only keeps a record of a user transaction for only a year.
If you don't agree then you can check with their support. Last year, while trying to file my taxes I requested Binance to send me the data for the financial year, unfortunately, I am still waiting. They never kept those transaction data and that is why they didn't send me as they knew that it is irrelevant at that time. They have mentioned on their support page that they keep transaction information for six months. For the rest you have to change the date and try, which I did last year but never got any Excel sheet from them. Check this page:
https://www.binance.com/en/support/faq/how-to-show-my-deposit-history-within-6-months-5801e72c38f647fd85818c38e1125907Not really since the citizens were mandated to follow whatever the tax imposed by government imposed and now they are becoming FIU complaint they can/will have rights to ask any data about users from India.
And the link you shared about 6 months is that they might ask source of income of the funds including cryptos within 6 month time period and that doesn't necessarily mean they won't keep our TXs data beyond 6 month.
I went through their privacy policies
https://www.binance.com/en/privacy where I can't really able to find how lng they will keep the shared data of users but
We may access, read, preserve, and disclose information when we believe it is reasonably necessary to comply with law, legal obligations, regulations, law enforcement, government, and other legal requests, court orders, or disclosure to tax authorities in line with the detailed information set forth under Section 6.
The Category of Personal Data processed is Personal Identification Information, Institutional Information, Financial Information, Transactional Information, Browsing Information, Usage Data, Blockchain Data.
Means they will keep track the data forever cause they might be asked anything by governments at any time and they are supposed to provide whatever the authorities seeks for smooth operation of their platform in the respective country.
