India may keep door shut on crypto for two years: WazirX

India may take up to two years to implement a more favorable cryptocurrency tax regime, according to the CEO of digital asset exchange WazirX. The nation’s imposition of a 1% tax on crypto transactions has caused trading volumes to plummet. Indian exchanges have lost over 2 million users since the tax was announced, with investors moving to overseas platforms. Industry players are hopeful that India will eventually adopt a friendlier crypto policy, but no specific steps have been outlined.