PANews reported on December 19 that according to TechCrunch, the trading volume of Indian cryptocurrency exchange WazirX fell by 90%, from $10 billion in 2022 to $1 billion this year, a 97% drop from $43 billion in 2021. The decline was due to increased regulatory pressure in India and falling global digital asset prices and stocks. Last year, India imposed a 30% tax on virtual currency gains and a 1% deduction on each crypto transaction.
