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.