Crypto tax deters 83% Indian investors from crypto trading: WaxirX report

Crypto tax deters 83% Indian investors from crypto trading: WaxirX report

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....


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