India's crypto industry may have to wait for up to two years for a more lenient crypto tax regime, as per domestic exchange WazirX's CEO. Last year, Indian authorities introduced a 1% Tax Deducted at Source (TDS) on cryptocurrency transactions, which led to a significant decline in trading volumes. This move prompted market makers and high-frequency investors to reduce their involvement due to the increased costs. A local exchange even attributed a 97% drop in trading volumes at domestic exchanges to this tax in just 10 months. In an interview with Bloomberg, Nischal Shetty, the CEO of WazirX, expressed his doubts about an immediate reduction in the TDS, citing the absence of formal discussions between the cryptocurrency industry and lawmakers on this matter.
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Mkt Cap $2.29T
BTC Dom 56.80 %
BTC
$64,969.00
▲ +0.70%
ETH
$1,913.49
▲ +0.30%
USDT
$0.999446
▲ +0.00%
BNB
$592.42
▲ +0.40%
USDC
$0.999681
▲ +0.00%
XRP
$1.03
▼ -1.10%
SOL
$73.72
▲ +1.30%
TRX
$0.327211
▲ +0.10%
FIGR_HELOC
$1.03
▲ +0.80%
HYPE
$54.25
▼ -3.20%
DOGE
$0.069786
▲ +1.40%
USDS
$0.999918
▲ +0.00%
RAIN
$0.012731
▲ +1.40%
LEO
$9.76
▲ +0.00%
ZEC
$511.73
▲ +3.60%
ADA
$0.201514
▲ +0.00%
XMR
$375.98
▲ +3.00%
WBT
$56.17
▲ +0.50%
LINK
$8.20
▼ -0.20%
XLM
$0.161852
▲ +0.70%
DAI
$0.999907
▲ +0.00%
BCH
$216.10
▲ +1.30%
USD1
$0.999808
▲ +0.00%
USDE
$0.999786
▲ +0.00%
GRAM
$1.35
▼ -1.80%
Mkt Cap $2.29T
BTC Dom 56.80 %
BTC
$64,969.00
▲ +0.70%
ETH
$1,913.49
▲ +0.30%
USDT
$0.999446
▲ +0.00%
BNB
$592.42
▲ +0.40%
USDC
$0.999681
▲ +0.00%
XRP
$1.03
▼ -1.10%
SOL
$73.72
▲ +1.30%
TRX
$0.327211
▲ +0.10%
FIGR_HELOC
$1.03
▲ +0.80%
HYPE
$54.25
▼ -3.20%
DOGE
$0.069786
▲ +1.40%
USDS
$0.999918
▲ +0.00%
RAIN
$0.012731
▲ +1.40%
LEO
$9.76
▲ +0.00%
ZEC
$511.73
▲ +3.60%
ADA
$0.201514
▲ +0.00%
XMR
$375.98
▲ +3.00%
WBT
$56.17
▲ +0.50%
LINK
$8.20
▼ -0.20%
XLM
$0.161852
▲ +0.70%
DAI
$0.999907
▲ +0.00%
BCH
$216.10
▲ +1.30%
USD1
$0.999808
▲ +0.00%
USDE
$0.999786
▲ +0.00%
GRAM
$1.35
▼ -1.80%
BTC
$64,969.00
▲ +0.70%
ETH
$1,913.49
▲ +0.30%
USDT
$0.999446
▲ +0.00%
BNB
$592.42
▲ +0.40%
USDC
$0.999681
▲ +0.00%
XRP
$1.03
▼ -1.10%
SOL
$73.72
▲ +1.30%
TRX
$0.327211
▲ +0.10%
FIGR_HELOC
$1.03
▲ +0.80%
HYPE
$54.25
▼ -3.20%
DOGE
$0.069786
▲ +1.40%
USDS
$0.999918
▲ +0.00%
RAIN
$0.012731
▲ +1.40%
LEO
$9.76
▲ +0.00%
ZEC
$511.73
▲ +3.60%
ADA
$0.201514
▲ +0.00%
XMR
$375.98
▲ +3.00%
WBT
$56.17
▲ +0.50%
LINK
$8.20
▼ -0.20%
XLM
$0.161852
▲ +0.70%
DAI
$0.999907
▲ +0.00%
BCH
$216.10
▲ +1.30%
USD1
$0.999808
▲ +0.00%
USDE
$0.999786
▲ +0.00%
GRAM
$1.35
▼ -1.80%
Mkt Cap $2.29T
BTC Dom 56.80 %
BTC
$64,969.00
▲ +0.70%
ETH
$1,913.49
▲ +0.30%
USDT
$0.999446
▲ +0.00%
BNB
$592.42
▲ +0.40%
USDC
$0.999681
▲ +0.00%
XRP
$1.03
▼ -1.10%
SOL
$73.72
▲ +1.30%
TRX
$0.327211
▲ +0.10%
FIGR_HELOC
$1.03
▲ +0.80%
HYPE
$54.25
▼ -3.20%
DOGE
$0.069786
▲ +1.40%
USDS
$0.999918
▲ +0.00%
RAIN
$0.012731
▲ +1.40%
LEO
$9.76
▲ +0.00%
ZEC
$511.73
▲ +3.60%
ADA
$0.201514
▲ +0.00%
XMR
$375.98
▲ +3.00%
WBT
$56.17
▲ +0.50%
LINK
$8.20
▼ -0.20%
XLM
$0.161852
▲ +0.70%
DAI
$0.999907
▲ +0.00%
BCH
$216.10
▲ +1.30%
USD1
$0.999808
▲ +0.00%
USDE
$0.999786
▲ +0.00%
GRAM
$1.35
▼ -1.80%
