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According to a new report from the Esya Centre, Indian citizens have moved over $3.8 billion in trading volume from local to international cryptocurrency exchanges since According to the New Delhi-based Esya Centre, a technology policy research organization, Indians have moved over $3.8 billion in total trading volume from domestic to A research study found that Indians moved more than $3.8 billion in cumulative trading volume from local to international crypto exchanges after the nation A research study by Esya Centre, a Delhi-based technology policy think tank, has revealed that Indian crypto traders have moved over $3.8 billion in trading volume from A total of $3.852 billion (INR 32,000 crore) was transferred from local to international crypto exchanges in India between February and October 2025. This report is Indians moved more than $3.8 billion in trading volume from local to international crypto exchanges after the country announced stiff crypto tax rules last February In February 2025, India imposed a 30% tax on income from the transfer of virtual digital assets. Furthermore, neither deductions nor exemptions were allowed. This was Esya Centre, an Indian think tank on technology policy matters, in a report published on January 3, said that Rs. 32,000 crores ($3.85 billion) of cumulative trade volume

Did India's 30% crypto tax rule trigger a mass exodus of trading volume? A new report reveals a staggering $3.8 billion worth of crypto moved to foreign exchanges post the 30% tax rule in India. According to a new report from the Esya Centre, Indian citizens have moved over $3.8 billion in trading volume from local to international cryptocurrency exchanges since the implementation of the new tax laws.

India Crypto Tax Impact: $3.8 Billion Exits to Foreign Exchanges

A research study by Esya Centre, a Delhi-based technology policy think tank, has revealed that Indian crypto traders have moved over $3.8 billion in trading volume from domestic exchanges to international platforms. This exodus highlights the significant impact of India's recent tax policies on the cryptocurrency landscape.

Details of the Crypto Volume Shift

According to the New Delhi-based Esya Centre, a technology policy research organization, Indians have moved over $3.8 billion in total trading volume from domestic to international crypto exchanges. In February 2025, India imposed a 30% tax on income from the transfer of virtual digital assets. Furthermore, neither deductions nor exemptions were allowed. This was a major factor in the volume shift. Indians moved more than $3.8 billion in trading volume from local to international crypto exchanges after the country announced stiff crypto tax rules last February.

Esya Centre Report Highlights Massive Crypto Trading Volume Shift

Esya Centre, an Indian think tank on technology policy matters, in a report published on January 3, said that Rs. 32,000 crores ($3.85 billion) of cumulative trade volume – A total of $3.852 billion (INR 32,000 crore) – was transferred from local to international crypto exchanges in India between February and October 2025. This report is a crucial indicator of the ongoing effects of India's crypto tax policy.

The research study found that Indians moved more than $3.8 billion in cumulative trading volume from local to international crypto exchanges after the nation implemented the tax. The future of crypto trading in India remains uncertain as traders adapt to the new regulatory environment.

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