India: Crypto-exchange volumes are falling, but for how long
ambcrypto.comGlobal crypto-holders suffered a lot during the crypto-winter. In fact, the global market cap of cryptocurrencies even dropped below $1 trillion. This is a far cry from the peak in November 2021 when it amassed $3 trillion.
While a lot of universal challenges have pulled back the market’s growth this year, some challenges are more local. Consider India, for instance.
Alarm bells were ringing when the Ministry of Finance first laid out taxations for cryptocurrencies in India. Still fresh from the bull market of November 2021, the government decided to levy heavy taxes on digital assets.
Crypto India recently shared a thread on Twitter talking about the burden and pressure on Indian crypto-exchanges. As expected, the numbers have been bad, with the same reiterating concerns associated with crypto-regulations in India.
<p lang=«en» dir=«ltr» xml:lang=«en»>1/ Ever since new crypto tax rules Read more on ambcrypto.com
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