Dear Readers,

There is a new development around the crypto space in India.

The Founder of Wazirx, India's largest Crypto Exchange- Nischal Shetty  and the former CEO of Zebpay, Avinash Shekar launched a new venture called Pi 42- a crypto-INR perpetual futures exchange.  

This is the first time in India, this have been rolled out.

We all know that the Indian crypto traders and investors found it very difficult from the high taxation of virtual crypto assets - 30% flat; 1% TdS on every crypto transactions and not allowing them to offset the loss in their tax filings from last year. Though they expected some relief with the current budget, it remains un touched. 

With the things went hard, the Indian Crypto Exchanges had lost their business over 80% and many crypto traders shifted from the Indian Crypto Exchanges to foreign crypto exchanges. 

The Ministry of Finance in an effort to regularise the foreign crypto exchanges to bring under the framework of Anti Money Laundering system, currently the major foreign crypto exchange URLs are banned in India including Binance, Kucoin etc., 

To overcome all this and to open some remedial measures and to bring back some businesses around crypto from India, Pi42 venture- a crypto-INR perpetual futures exchange has now launched. Interestingly, the new venture Pi42 complies with the Prevention of Money Laundering Act (PMLA) guidelines and has applied for the approval for Financial Intelligence Unit (FIU) of the Indian Government. 

In an official statement, Pi42 offers the investors with a wide range of derivatives with easy go compliance, tax efficient systems and other conveniences.

It is to be understood that investors can directly deposit and trade at easy with INR. Thus we need not worry about the conversion fees, complexities and taxation issues including the Tax Deducted at Source (TDS). Pi42 allows the investors to gain exposure to the cryptomarket with leverage up to 20 times and with no expiry dates. It also offers advanced trading features such as margin trading, stop-loss orders and other advanced tools in the future market- which ease the complexity of the direct crypto trading.

As there are lot of facilities and comfortability reinstated in the new Pi42 platform, it would attract a lot of investors and traders.

It is a simple sign up process with KYC formalities with Pi42 joining procedure. 

If you would like to join the Pi42 platform, please do so, with my referral link for mutual benefit: https://pi42.com/referral?code=UKY562