CoinGecko: Daily trading volumes at Indian crypto exchanges ZebPay, WazirX, CoinDCX are down 60%-87% after the 1% transaction tax went into effect on July 1 (Sidhartha Shukla/Bloomberg)

Sidhartha Shukla / Bloomberg†

CoinGecko: Daily Trading Volumes at Indian Crypto Exchanges ZebPay, WazirX, CoinDCX Drop 60%-87% After 1% Transaction Tax went into effect on July 1– Warnings from Indian crypto exchanges that a controversial new transaction tax would erode trade are emerging, with volumes evaporating since the tax went into effect.