Indian Crypto Boom: New Traders Flood Exchanges — CEOs Reveal What’s Driving ...
The Indian cryptocurrency industry is experiencing massive growth. New traders are flooding crypto exchanges, executives from four of the largest crypto trading platforms in India exclusively told news.Bitcoin.com. They also share their views on what drives the Indian crypto market, current traders’ sentiment, and institutional interest in crypto in India. Massive Growth of New Crypto Traders, Volumes Cryptocurrency exchanges in India are seeing record numbers of new users signing up on their platforms, accompanied by huge surges in trading volumes. At Unocoin, one of the oldest....
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Indian crypto exchanges have been experiencing a flood of INR deposits and surging trading volumes since it was revealed that Elon Musk’s Tesla purchased $1.5 billion worth of bitcoin. The positive sentiment swept the Indian crypto industry despite the uncertainty of the cryptocurrency bill that may soon be introduced in parliament. INR Deposits and Trading Volumes Spiked After Tesla’s Bitcoin Buy News Indian cryptocurrency exchanges experienced high deposit volumes on Monday after Elon Musk’s Tesla revealed that it bought bitcoin. According to the company’s filing....
Several major global cryptocurrency exchanges are reportedly exploring ways to enter the Indian crypto market. “The Indian market is huge and it is only starting to grow, if there was more policy certainty by now Indian consumers would have been spoilt for choice in terms of exchanges because everyone wants to be here,” said an executive of a crypto firm. Major Crypto Exchanges Want to Enter India Global crypto exchanges are exploring ways to enter the Indian cryptocurrency market, Reuters reported. Four sources told the publication that U.S.-based Kraken, Hong Kong-based....
With two consecutive taxes ready to eat away at their holdings, most Indian investors have seemed to have opted for hibernation amid an unforgiving bear market. The implications of what anti-crypto regulations can do to a thriving economy can be seen first-hand unfolding in India. Supporting the massive decline in trading volumes across all Indian crypto exchanges, a report from WazirX reveals a change in investor sentiment as the Indian government imposed its second crypto law — a 1% tax deduction at source (TDS) on every crypto transaction.Trading volumes on Indian crypto exchanges saw....
During this festive period in India, cryptocurrency exchanges will entice users to transact bitcoin rather than gold. This is a sequel to the commencement of this year’s Hindu celebration, the Ganesh Chaturthi, which commenced a few days ago. Indian-based crypto exchanges have commenced active measures in attracting more users and investors. The plan is to […]
The Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have been recovered from them.
11 Crypto Exchanges Investigated for Tax Evasion
The Indian government answered some questions regarding the taxation of cryptocurrency exchanges Monday in Lok Sabha, the lower house of parliament.
Parliament member S. Ramalingam asked the finance minister “whether it is true that some cryptocurrency exchanges were involved in evasion of goods and....