India’s crypto tax impacted trading frequency of 83% of traders, says survey

A survey conducted by crypto exchanges WazirX and Zebpay found that 83% of traders believe India’s 30% tax on all cryptocurrency and non-fungible token (NFT) transfers has impacted their trading frequency. The survey shared with CryptoSlate included 9,500 respondents who had actively traded between January 1 and April 15, 2022. The respondents were divided into … Read more

India’s 1% tax has dealt a heavy blow to crypto trading volumes

The trading volumes on Indian cryptocurrency exchanges have come under added pressure from the 1% tax that came into effect on July 1. The trading volumes have been on a downward slope ever since India imposed a 30% tax on all cryptocurrency and non-fungible token (NFT) transactions and transfers from April 1. The 1% tax … Read more

Report: Crypto traders potentially owe IRS around $50B in unpaid taxes

A Barclays report has revealed that crypto investors might not be paying their full taxes to the Internal Revenue Service (IRS), saying that the tax gap for crypto traders could be up to $50 billion, CNBC reported. The tax gap is the difference between tax owed and tax collected. Barclays arrived at this calculation using … Read more