Binance Holding Ltd. Chief Executive Officer Zhao “CZ” Changpeng said India’s onerous taxes on cryptocurrency transactions will probably “kill the industry” there.
“India has high tax which is probably going to kill the industry,” Zhao said in livestreamed remarks during panel at a fintech conference in Singapore on Thursday.
Zhao’s comments add to a litany of warnings on the outlook for India’s crypto industry, after the government this year introduced a tax package that’s caused trading volumes to evaporate. Instead of introducing comprehensive regulations, India has opted for heavy taxes on capital gains and transactions to curtail the business.
ZebPay, one of India’s oldest crypto exchanges, is looking overseas for growth, CEO Avinash Shekhar said last month, adding that the 1% transaction tax “has to come down, otherwise things are not going to improve.”
Note:- (Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor. The content is auto-generated from a syndicated feed.))
I truly appreciate this post. I?¦ve been looking all over for this! Thank goodness I found it on Bing. You’ve made my day! Thx again
F*ckin’ awesome issues here. I’m very happy to look your post. Thanks so much and i’m looking forward to touch you. Will you kindly drop me a e-mail?
I have been reading out a few of your articles and it’s nice stuff. I will definitely bookmark your website.
You have remarked very interesting points! ps decent website .
Hey, you used to write wonderful, but the last few posts have been kinda boring… I miss your super writings. Past few posts are just a little out of track! come on!
Perfect piece of work you have done, this site is really cool with great info .
An interesting discussion is worth comment. I think that you should write more on this topic, it might not be a taboo subject but generally people are not enough to speak on such topics. To the next. Cheers