I have often seen that trading volume has been reduced by more than 90% in Indian exchanges after the draconian tax implemented for trading and users have switched to international crypto exchanges but how does Indian exchange still make money or survive? Are they still managing with the profits they earned all these year? Some have shit down operations and some has laid off their employees but will there be any changes to the regulations? Even exchange owners are afraid of speak out against the current regime fearing repercussions but if things don't change them once booming Indian Crypto exchange industry will die a slow death. What are your thoughts on this?
Just an articles posted fortnight ago in this regards -
https://www.firstpost.com/tech/indian-crypto-exchange-wazirxs-trading-volume-falls-by-90-per-cent-as-regulatory-delays-continue-13529432.html
