Frozen crypto payments across India, 30% tax hits trading
Sat, Apr 16, 2022 10:33 AM

Frozen crypto payments across India, 30% tax hits trading

A Flip by Farha
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The government this month introduced a 30% levy on income from digital asset investments, putting additional pressure on already falling trading volumes.

According to the data from CoinGecko, Indian crypto exchanges cater to about 15 mn people in daily trading volumes. Last year, it has tumbled between 88% and 96%. India’s biggest crypto bourse, WazirX saw volumes drop 93% from an October high.

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