‘Phenomenal milestone', says Sumit Gupta as CoinDCX crosses 1 cr registered users

Co-founder and CEO of crypto exchange CoinDCX Sumit Gupta confirmed in a recent tweet that CoinDCX has logged in over 1 crore registered users. 

“Super thrilled and excited to share that CoinDCX is now trusted by 1 crore users! Accomplishing such a phenomenal milestone in just under four years since our launch is a great feeling. It’s amazing to see how well India has welcomed and embraced digital assets and crypto,” Gupta's tweet read.

The CoinDCX boss further said that reaching the 1 crore milestone is a big achievement. He noted, “We’re committed to drive transparency and [our] credibility in the crypto industry and make CoinDCX the nation’s safest crypto exchange. Neeraj Khandelwal, I and the entire team at CoinDCX are amazed by the power of crypto and the many ways it would benefit us as a nation. This milestone takes us one step closer to our dream of driving crypto adoption and education in India.”
 
Official CoinDCX handle also shared a 17-second-long video charting the crypto exchange’s journey from the first day till now on this occasion. The video starts with “Started with a team of 100” and goes onto say “Has now won the trust of 1,00,00,000 users”. CoinDCX shared the video with a caption, “Thanking our community 10000000 times! To many such milestones.”

Meanwhile, Finance Minister Nirmala Sitharaman during her Budget 2022 speech announced a 30 percent tax and 1 percent tax deducted at source (TDS) on income generated from virtual digital assets. She further added that in case of crypto transactions, losses accrued cannot be offset against any other income. 

Moreover, Sitharaman also talked about launching a central bank-backed 'digital rupee' soon.

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