Here Zhao did not hold back his thoughts on what it has been like to operate in the region. “To be honest, I don’t think India is a very crypto-friendly environment,” he told the publication during the TechCrunch Crypto Conference earlier this week.
The reason for his statement stems from the high taxation that crypto players face in India, which is making operations in the region increasingly untenable. “A user could trade 50 times a day and they will lose like 70% of their money. There is not going to be any volume for an order book type of exchange. So we don’t see a viable business in India today. We just have to wait. We are in conversation with a number of industry associations and influential people and trying to put some logic there,” he added.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: htxtafrica - 🏆 42. / 51 Read more »