THE CRYPTO WORLD UNRAVELS

2022-05-15 - Volumes on exchanges dipped due to the UPI disruption

UPI payment services for crypto exchanges got suspended recently leading to low volumes

NPCI issued a statement saying “we are not aware of any crypto exchange using UPI”

30% tax levied on crypto gains from April 1, 2022, also contributed to the fall in trading volumes

Finance Minister Nirmala Sitharaman emphasised on the need for a global approach towards regulating cryptocurrency