The industry body representing cryptocurrency exchanges has decided to reach out to relevant policymakers to brief them about complications arising out of the government’s move to levy a 1% TDS on all crypto transaction, The Economic Times reported.
The issue was discussed at the meeting of the Blockchain and Crypto Assets Council (BACC), where the overwhelming view was that this move would dent crypto trading volumes and drive small traders towards informal person-to-person (P2P) trading and decentralised exchanges (DEX).
Read the full report: The Economic Times
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