HOSTILE POLICY DRIVES CRYPTO INVESTORS AWAY FROM INDIAN EXCHANGES
GOVERNMENT’S INDECISION ON CRYPTOCURRENCY REGULATION HITS TRADE
2022-04-16 12:04
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India is making all the wrong noises on the cryptocurrency front! In the 10 days beginning April 1, transaction volume on top Indian crypto exchanges such as WazirX, CoinSwitchKuber, CoinDCX, and ZebPay, have declined by over 90 percent, normalized to last year. For context, WazirX, the largest Indian crypto exchange by volume, had reported $44 billion in trading volume in 2021. Now, their business has come down by up to 98%, which is virtually a complete washout of their trading volume.