Business Maverick: Trading dries up on India crypto exchanges as new tax kicks in

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Ttrading levels are already depressed, as a combination of plunging prices, unfavourable tax treatment and difficulty getting cash onto exchanges combined to depress the once-hot market.

Warnings from Indian crypto exchanges that a controversial new transaction tax would erode trading are coming true, with volumes evaporating since the levy took effect.

Those steep declines came from already depressed trading levels, as a combination of plunging prices, unfavourable tax treatment and difficulty getting cash onto exchanges combined to depress the once-hot market.

 

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