Bybit to Implement 18% GST on Crypto Transactions for Indian Users Starting July 2025

Bybit, a leading cryptocurrency exchange, has announced the enforcement of an 18% Goods and Services Tax (GST) on all crypto transactions for its Indian users, effective July 7, 2025. This tax will apply to various services, including spot trading, derivatives, fiat conversions, withdrawals, and staking. The GST will be calculated based on fees or spreads, with deductions made directly from users' asset balances. For example, a trading fee of ₹2,000 will incur ₹360 in GST. This move impacts over 310,000 active users on the platform, marking a significant development in India's evolving crypto regulatory landscape.

Bybit Imposes 18% GST on Crypto Transactions for Indian Users Effective July 2025

Bybit will enforce an 18% Goods and Services Tax (GST) on all cryptocurrency transactions for its Indian user base starting July 7, 2025. The tax applies to spot trading, derivatives, fiat conversions, withdrawals, and staking services—calculated based on fees or spreads. Over 310,000 active users will see direct deductions from their asset balances; a ₹2,000 trading fee, for instance, incurs ₹360 in GST.

Concurrently, the exchange is phasing out legacy products. The move aligns with India's tightening crypto regulations, potentially reshaping liquidity and trading strategies for local investors. Bybit joins other platforms navigating the country's evolving tax framework, which has already seen a 1% TDS mandate since 2022.

PEPE, BONK, and Remittix Outperform Dogecoin Amid Market Shift to Meme Coins and Utility Tokens

PEPE's price surged 20-25% in June following whale activity involving 11.75 trillion tokens, with analysts predicting further upside. The token broke out of a month-long downtrend, trading at $0.0000104 after hitting $0.00002837 earlier this year. On-chain data reveals sustained large-holder interest, including a 27.9 million token transaction on Bybit.

Solana-based BONK rallied 10% in early July, reaching $0.00001494 as capital flows into meme coins accelerate. Meanwhile, Remittix's upcoming Q3 beta launch highlights growing institutional interest in next-generation payment solutions.

Market sentiment has decisively shifted toward both speculative meme tokens and functional blockchain projects. This bifurcation reflects broader crypto market trends where liquidity chases both viral narratives and tangible utility.