Regulation· ★★★· neutral·

Indian crypto exchanges to absorb 0.4% UPI fee from October 15

  • —0.4% MDR applies to P2M transfers over 2,000 rupees, cap — 300 rupees
  • —Transactions up to 2,000 rupees (95% of UPI volume) are not subject to the fee
  • —For an exchange with a monthly turnover of 100 crore rupees, costs will reach 40 lakh rupees
  • —P2P transfers and small merchants up to 1 lakh rupees per month are exempt from MDR
Why it matters: Free rupee deposits via UPI were a key tool for attracting traders; now exchanges bear new costs, which could affect spreads and fees.
Source: The Crypto Times
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