India’s new tax rules that collect 1% TDS on transfer of crypto and other virtual assets came into effect on July 1.
Taiwanese crypto exchange XREX suspended INR trading on their platform on June 30.
This neobank allows fiat-crypto trading and also supports trading crypto in US dollar and the Indian rupee.
The platform advised the users to withdraw any INR balance, and offered them assistance.
Taiwanese crypto exchange XREX suspended INR trading on their platform on June 30, a day before the new crypto tax rules came in. This neobank, which also allows fiat-crypto trading, is the only one in the world that supports US dollar and the Indian rupee.
Now, it only offers USD and crypto-to-crypto trades. In a mail sent to its users, XREX also stated that all INR services will be temporarily suspended from July 31, following the new crypto regulations in India that came into effect on July 1 and intends to collect 1% tax deducted at source (TDS) on crypto trades.
“All INR open orders and...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...