Crypto tax deters 83% Indian investors from crypto trading: WazirX report
— Zim75tqslp — wazirx, Bollywood, Country, Salman khan, 10 %., Opinion, Hours, India ka bitcoin exchange (@ wazirxindia, Would tax investors 30, Looks like — 1 min read
Trading volumes on Indian crypto exchanges have plunged by 90-95% since new crypto laws became applicable. Indian investors have opted for hibernation amid an unforgiving bear market. WazirX and Zebpay surveyed around 9,500 active traders from the region to better understand investor sentiment. Survey revealed that 83% of traders were forced to reduce their trading frequency owing to the TDS deductions. Over 27% of the investors, the majority comprised of millennials, ended up selling 50% of their portfolio before April 1 whereas 57% sold under 10%. With Indian investors eyeing international exchanges to circumvent taxes comes the risks associated with trading on non-KYC compliant exchanges with little or no oversight. GARI, a token launched by an A-list celebrity from Bollywood, Salman Khan, plunged 83% in value in a matter of hours on Monday Source