CoinGecko: daily trading volumes at Indian crypto exchanges ZebPay, WazirX, CoinDCX have dropped 60%-87% after the 1% transaction tax became effective on July 1 (Sidhartha Shukla/Bloomberg)

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Sidhartha Shukla / Bloomberg:

CoinGecko: daily trading volumes at Indian crypto exchanges ZebPay, WazirX, CoinDCX have dropped 60%-87% after the 1% transaction tax became effective on July 1  —  Warnings from Indian crypto exchanges that a controversial new transaction tax would erode trading are coming true, with volumes evaporating since the levy took effect.