Indian Crypto Companies Are Relocating to Dubai, Singapore
— Cryptocurrencies, Leader, Digital asset space, Discouraging, Coindcx — 1 min read
WazirX, ZebPay, CoinDCK and BitBns are moving to Dubai and Singapore. India recently announced a 1% tax deducted at source (TDS) on top of a 30% tax on investment profits. India’s central bank is labeled “hostile” to the cryptocurrency sector. Dubai has a full exemption on cryptocurrency taxes — similar to its treatment of personal income. Global companies are now preparing to launch in Dubai, including Binance, FTX Europe, Crypto.com and Bybit. TripleA recently became one of the first crypto companies to be licensed by Singapore by the Central Bank’”TripleA” CEO Eric Barbier believes Singapore is a “business-to-business model” Source