Bitget enters India amidst crypto taxation policies

Bangalore, April 27(PRNewswire) Bitget the leading derivatives exchange has announced its entry into India to provide a secure, and compliant platform for crypto futures, derivatives, and one-click copy trading. This strategic decision comes right after the newly levied crypto taxation policies in India.

As per the current crypto regulations in the region, capital gains or profits on cryptocurrencies will be taxed at 30% with an additional TDS tax of 1% on all trading transactions.

"We've received an overwhelming demand for support from India. At Bitget we're constantly looking to grow and expand by creating a safe and transparent environment to drive mass adoption," said Sandra Lou, CEO and Co-founder, Bitget.

"India based crypto traders exceed the population of several countries, with over 100 million users holding digital assets. Our mission is to provide a secure platform to interact with digital assets and provide support to nations fostering its growth," she added.

To simplify crypto taxation, Bitget has partnered up with Koinly, a leading crypto taxation software which can be utilized to calculate taxes in regions like India, and 19 other countries.

Bitget's entry in the Indian market will be followed by strategic hiring and crypto community development with the aim to contribute to crypto and blockchain's growth.

About Bitget Bitget is a leading global cryptocurrency exchange established in July 2018. Serving millions of customers in more than 50 countries. Bitget aims to contribute to decentralised finance on a global scale. Since its launch, Bitget has become one of the world's largest crypto copy trading platforms, through the gaining popularity of its flagship One-Click Copy Trade products. According to CoinmarketCap, Bitget was ranked third globally, in terms of its derivatives volume as of January 2022. Adhering closely to our mission of Better Trading Better Life, Bitget is committed to providing comprehensive and secure trading solutions to our users around the world.

Disclaimer note: Bitget is not soliciting you to trade but providing you with a tool for your own personal use and for your convenience.The information contained herein is not intended to be relied on for tax advice. Please consult with a tax advisor regarding your personal tax circumstances.