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India’s Crypto Tax Sparks A Devastating Trading Shift
More than 80% of crypto trading volume on Indian exchanges now comes from futures and derivatives, with spot trading volume dropping by as much as 85% since 2022, according to a Moneycontrol report published on July 15. The shift has been driven primarily by the 1% Tax Deducted at Source on every spot crypto transaction, a levy that locks up trading capital and makes frequent buying and selling prohibitively expensive for active traders. How 1% TDS Rewired India’s Market Structure The 1% TDS was introduced in the 2022 Union Budget and applies to every spot purchase and sale of cryptocurrencies classified as Virtual ... (full story)
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