Crypto tax deters 83% Indian investors from crypto trading: WaxirX report #togrp7

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.

Trading volumes on Indian crypto exchanges saw an eventual reduction of 90-95% ever since the country introduced a law that would tax investors 30% on unrealized gains. 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.Prominent Indian crypto exchanges WazirX and Zebpay surveyed around 9,500 active traders from the region to better understand investor sentiment.#togrp7

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