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Indian crypto trading volumes slump following hefty taxes

Coin Telegraph LogoCoin Telegraph1 mo ago

Indian crypto trading volumes slump following hefty taxes

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Indian crypto traders may be giving up since they must now factor in a 30% income tax and a 1% tax per transaction on crypto trades, forcing exchange volume to plummet.

For now, crypto traders like Mumbai’s Shounak Shetty are also hurting.

At the trough of volume levels, WazirX, CoinDCX, and Zebpay took in a combined $21,649 per day.


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Article Details

Author / Journalist: Cointelegraph By Brian Newar

Category: Crypto

Topics: BitBNS WazirX TDS

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-05, 03:10:36

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Reading Time: 3 minutes read

Article Length: 467 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 30181

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About Coin Telegraph

Coin Telegraph Logo

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 24 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #11

Publisher Details

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