India's high crypto tax may kill the industry there: Binance CEO

Binance CEO Changpeng Zhao has said that India's high taxes on cryptocurrency transactions may "kill the industry" in the country. Zhao made the comments during a fintech conference in Singapore. His remarks come months after the Indian government introduced a 30% tax on gains from cryptocurrencies. The government also mandated a 1% tax deduction at source on all crypto transactions.