India’s P2P Bitcoin Trading Volume Nearly Doubles In One Week
Thanks to the help of companies such as Unocoin and ZebPay, spending Bitcoin becomes easier as well. It almost feels like one could talk about Bitcoin and India every day of the week. Although the financial turmoil in the country is no guarantee for cryptocurrency adoption, things are changing. P2P Trading of Bitcoin has never been higher in the country, as the numbers virtually doubled in one week’s time. Ever since the 500 and 1,000 rupee notes were deemed invalid in India, the country has been in a state of flux. Traders, investors, and consumers are looking for new financial means to....
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Speaking of Bitcoin in India, LocalBitcoins saw an increase in volume last week. If there is one thing India’s banknote ban has taught us, it is how the plan did not work. Swapping the most widely used currency for new bills was an attempt to remove “black money” from circulation. But it turns out most banknotes have been swapped successfully. Either there is no significant amount of black money in the cash economy, or the bad actors moved wealth into other assets. In the end, it appears this cash swap serves no real purpose. One of the more pressing questions is whether or not India’s....
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Cryptocurrency trading volumes in India have plunged further across exchanges as traders mull over the 30% crypto taxation. In addition, popular payment service provider Mobikwik has stopped service to exchanges.
Crypto Trading Volume in India Plunges Further
Cryptocurrency trading volume in India continues to slide after the government began taxing crypto income at 30% without allowing any loss offsets or deductions.
According to crypto research firm Crebaco, cryptocurrency trading volumes have fallen from last week across all major exchanges, Moneycontrol....
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