The cryptocurrency exchange Bybit has announced that it will start applying a Goods and Services Tax (GST) of 18% on transaction and service fees for users in India starting from July 7, 2025. The tax will apply to spot trading, margin trading, derivatives, fiat conversion, crypto withdrawals, staking interest, and activities on Bybit Pay.
For example: selling 1 BTC at a price of 100,000 USDT, the user only receives 99,882 USDT after deducting 118 USDT in fees and taxes.
In addition, from July 9, Bybit will cease services including: old version crypto loans, Bybit cards, and trading bots such as Spot Grid, DCA, and Futures Combo. The cards will be locked from new transactions starting July 17, and the loans will be automatically settled.
This move is part of the regulatory compliance strategy in India, but it also raises concerns about the increased tax burden ( combined with a 30% profit tax and a 1% TDS) potentially hindering the long-term development of the country’s crypto market.
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