AccordingCNBC TV18 India reports that the government of India plans to redesign cryptocurrency exchanges into an ecommerce platform. This will decrease the Goods and Services Taxes users pay per transaction (or per trade) to 1%.

At the moment, 18% GST is levied by India on all transactions made on registered crypto exchanges. These fees are passed onto users as trading charges. Similar to India’s tax protocol for stock brokerages, the process is identical.