Cryptocurrency News
Indian crypto exchanges’ volume plunges as 30% tax goes into effect
2022.04.12 13:26
Indian crypto exchanges’ volume plunges as 30% tax goes into effect
Fresh data on Indian crypto exchanges’ trading volume reveals a significant decline in trading practices among Indians just ten days after the tax rule implementation. India’s new 30% crypto tax rule came into effect on April 1, despite many stakeholders and exchange operators warning against its ill effects.
A research data report shared by Indian blockchain analytic firm Crebaco with Cointelegraph shows that trading volume on top Indian crypto exchanges has declined as high as 70% in the past 10 days.
