As a result of a significant tax change, billionaire CEO of Binance Chang Peng Zhao is tightening his control over the Indian cryptocurrency trading market.The aftermath of a significant tax change has led billionaire Chief Executive Officer Chang Peng Zhao of Binance Holdings Ltd. to tighten his control over the Indian cryptocurrency trading market. According to data from market intelligence company Sensor Tower, downloads of Biannca’s app in India increased to 429,000 in August, the highest number this year and nearly triple that of second-place CoinDCX. Among the top exchanges, only Binance saw more downloads in India than in July. In a market where competitors are struggling due to high taxes and the difficulty of moving money into and out of trading venues, the owner of the biggest cryptocurrency exchange in the world stands out. Since a 1% tax on cryptocurrency transactions went into effect in July, daily volumes at important India-based platforms have decreased by more than 90%.