Cryptocurrency exchanges in India have seen trading volumes drop between 15% and 55% since the new tax law came into effect on April 1. Analysts also believe that liquidity could be affected as a 1% tax deducted at source law comes into effect from July 1. Reports are emerging that cryptocurrency exchanges in India

Source: Twitter/@IAPonomarenkoCrypto trading volumes using Ukrainian hryvnia (UAH) as the fiat currency have fallen to nearly their normal levels, despite banking restrictions in Ukraine making fiat transactions in the region increasingly difficult. From Russia, however, crypto trades using the Russian ruble (RUB) still remained well above their normal levels on the crypto exchange