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Not surprisingly, Indian cryptocurrency exchanges have been in hot water thanks to such a hostile regulatory environment. Crypto exchanges are facing the music. Regulatory hostility has dealt a body blow to India’s leading cryptocurrency exchanges. Zebpay, India’s largest cryptocurrency exchange, announced in late September that it is shutting down as the RBI directive effectively crippled its operations. Zebpay was hit hard as banks decided to cut themselves off from any crypto-related transactions. The Indian regulators’ unsympathetic approach toward cryptocurrency was further reinstated in late October when Harish BV, the founder of crypto exchange Unocoin, was arrested for setting up an ATM kiosk at a mall, https://hotflashcity.com/community/profile/binance18944831/. This $1,000 gets reported on George’s tax return, and George will pay a certain percentage of tax on this gain. The percentage of tax he pays depends on his personal income tax bracket. 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