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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.

Other investors include Coinbase Ventures, Kingsway, DraperDragon, Republic and Kindred Ventures. 

The bottom line: Venture capitalists are betting that TAM > taxes.

Indian crypto exchange valued at over $2 billion

This comes just weeks after the implementation of India's new crypto tax rules.

Cryptocurrencies

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&#x27;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.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Indian crypto exchange valued at over $2 billion

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