India has achieved the top rank among 154 nations in grassroots crypto adoption, displaying remarkable resilience in the face of challenging regulatory conditions, as revealed by Chainalysis’ 2023 Global Crypto Adoption Index.
India has secured the first position in four critical parameters:
This impressive ascent from fourth place last year underscores India’s growing embrace of cryptocurrency among everyday citizens.
Grassroots crypto adoption goes beyond raw transaction volumes. It reflects the extent to which ordinary people in a country are enthusiastically adopting cryptocurrency. It’s about the widespread acceptance and utilization of crypto in daily life.
India’s pioneering position is followed closely by:
A noteworthy trend identified in the report is the dramatic increase in crypto adoption in low-income countries. This surge was triggered by the collapse of FTX, which occurred late in 2022. Despite initial setbacks, these nations have shown remarkable resilience in embracing cryptocurrencies.
India’s impressive crypto adoption is particularly remarkable given the challenges it faces. The government has introduced stringent taxation rules, including a 30% tax on gains and a 1% TDS (Tax Deducted at Source) on crypto trades. These measures have adversely impacted trade volumes within the country.
Find More Ranks and Reports Here
Did you know that calendars are not the same everywhere in the world? Different countries…
Jammu and Kashmir etched their name in history by winning the Ranji Trophy 2025-26 in…
Union Minister Sarbananda Sonowal inaugurated three key infrastructure projects on National Waterway-2 (NW-2) along the…
The Indian Air Force (IAF) displayed its combat power during Exercise Vayu Shakti 2026 at…
The Central Bank of the UAE has unveiled what it calls the world’s first sovereign…
India’s forex reserves dropped by $2.11 billion to $723.608 billion which are according to the latest…