Crypto industry has always been a controversial one in the Indian landscape.

Uncertain regulations are one of the reasons for its sluggish growth in India.

Government has imposed 30% taxes and 1 % TDS on cryptocurrency transactions.

Crypto exchanges noticed huge drop in the volume of crypto trading after this law came into an effect.

After heavily imposed taxes, now the investors are facing new challenge.

Major crypto exchange platforms have disabled INR deposits from UPI.

This happened because of NPCI's controversial statement release.

Recently Coinbase said that it would allow users to buy cryptocurrencies using UPI.

On the same day NPCI released a statement that they are not aware of any crypto exchange using UPI.

After this Coinbase shut down all the purchase options including UPI.

Following the footprints CoinDCX, WazirX, and CoinSwitch Kuber have also disabled UPI.

CoinSwitch Kuber even disabled INR deposit in App via UPI and other bank transfer route.

Heavily imposed taxes and UPI uncertainty making difficult for crypto industry to hold ground in India.

Find out more about crypto survival in India.