Indian crypto exchange valued at over $2 billion

CoinDCX, an Indian cryptocurrency exchange, raised $135 million in Series D funding at a $2.15 billion post-money valuation co-led by Steadview and Pantera.

Why it matters: This comes just weeks after the implementation of India's new crypto tax rules, including a 30% capital gains tax rate and a 1% at-source tax on transactions above a certain size. Those regs have cut deep into trading volumes, particularly slowing down high-frequency plays.