‘Millions Waiting To Enter Crypto Space’

How big is the crypto exchange business in India? With approximately 1.5 crore Indians holding crypto assets worth Rs 15,000 crore, crypto is still in the early stage of technology breakout. Today’s crypto valuations are because cryptos have only 3 per cent of the internet population. There is a huge number of people waiting to enter this space. But cryptocurrency is still a grey area without any regulation and guideline. It goes without saying that earnings from crypto trading are taxable like any other income and should be declared in the Income Tax Returns. We advise our users to consult with experts like chartered accountants on how to declare these earnings in ITR. This is where a crypto regulation will bring more clarity to this as we will understand how crypto is classified and taxed in India. How has been the growth for WazirX? Launched in 2018, WazirX is India’s...