The 30% tax that the Indian government plans to impose on profits from cryptocurrency trading has benefited cryptocurrency exchanges in the country.
The tax plan, presented by Finance Minister Nirmala Sitharaman and announced on February 1, returns positive to domestic cryptocurrency trading platforms.
According to the statements of Nischal Shetty, one of the founders of WazirX, which is affiliated with Binance and one of the leading exchanges in the country, after this tax was announced, the exchange 30% in the number of new users per day there has been an increase.
Another trading platform is CoinSwitch, according to data shared by Ashish Singhal. an increase of 35% he saw.
Peoples after learning that tax will be levied Although it is interesting that it turns to crypto money platforms, this decision taken by the government to be justified It is thought to create a perception.
Shetty, co-founder of WazirX, said: “With the announcement of this tax in the annual budget, investors can now see their future better. Before that, people couldn’t be sure if cryptocurrencies were allowed.” said.
Shetty said that the number of cryptocurrency investors in India will increase in the next two to three years. to reach 100 million waiting.
These two exchanges how many new users According to the statements made by Shetty, these new users are on average. 30 thousand – 40 thousand rupees invests in.