Crypto withdrawals remain open for people who provide us liquidity but for the majority of people, it remains disabled, says Mridul Gupta, COO, CoinDCX
The crypto ecosystem in India is going through one of its toughest phases. The double jeopardy in the form of price crash and stiff taxation provisions has resulted in up to 80% slump in trading volumes on Indian exchanges. Mridul Gupta, chief operating officer at CoinDCX, talked to Mint about the impact of the recently introduced 1% tax deducted at source (TDS), notices issued by the Enforcement Directorate (ED) and the safety of investors’ funds. Edited excerpts from an interview:
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