Indian Crypto Exchange WazirX Lays Off 40 of Its Employees Sources

Indian exchange WazirX has laid off several employees, the company said in a statement shared with CoinDesk on Saturday. The laid off workers were told on Friday they would be paid for 45 days, they would not be required to report for work henceforth and their accesses were withdrawn simultaneously. The crypto market has been in the grip of a bear market because of the current global economic slowdown,” WazirX said in a statement on Saturday. “The Indian crypto industry has had its unique problems with respect to taxes, regulations and banking access. This has lead to a dramatic fall in volumes in all Indian crypto exchanges.