Crypto industry can do much better with TDS reduction: CoinSwitch

BENGALURU: Ever since 1% TDS (tax deducted at source) for virtual digital assets was introduced, the crypto industry has been seeing reductions in trading volumes, but as crypto market rebounds, crypto trading platform CoinSwitch expects TDS reduction in the next budget at least, and this will attract more new users.

CoinSwitch, which has over 2 crore registered users, has plans to introduce Futures and Options on its crypto platform and wants to simplify features for its users.