Sunday, 19 April, 2026
As new tax regulations take effect, volumes on crypto trading platforms decline
By Basit Ansari
<p>After reaching a monthly high on March 31, trading volumes on cryptocurrency exchanges have dropped by 30-70%. On the final day of the fiscal year, volumes on top crypto trading platforms surged as traders hedged their bets before a new tax regime controlling virtual digital assets (VDAs) took effect on April 1. Traders now have to pay a 30% flat tax on gains realised on VDAs. Starting in July, a 1% tax deducted at source (TDS) will be imposed.</p>
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