India remains a top crypto market despite challenges around tax laws.
Lower middle-income countries, for one, have demonstrated an extremely promising crypto adoption trend. This cohort of countries constitutes 40% of the world’s population. Hence, if they are the future, they could be a big part of the crypto future, according to Chainalysis’ data.
India has even emerged as the second-largest crypto market in the world by raw estimated transaction volume, surpassing several wealthier nations in the process despite the challenging regulatory and tax environment. “As long as that demand is there, crypto will always have a place in the world’s second-largest country.”Although there has been a noticeable rebound from the lows experienced in late 2022, when FTX collapsed, grassroots adoption of cryptocurrency remains significantly below its historical peak.CSAO has been outperforming other regions in crypto adoption when considering factors like purchasing power and population.
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