India’s current cryptocurrency tax structure “may lead to a loss of approximately US$1.2 trillion of local exchange trade volume in the next four years,” according to research by Esya Centre, a technology policy think tank in India.
Cumulative trade volume of about US$3.852 billion moved from India’s centralized crypto exchanges to foreign exchanges between February and October 2022, after India introduced strict crypto tax rules on Feb. 1, the report said.
All Comments