Indian Crypto Market Is Growing: Report Shows the Country Has 115 Million Cry...
A new report shows that India has roughly 115 million crypto investors, and the country’s crypto economy is growing despite the recent market downturn, with more than half of the crypto investors surveyed planning to increase their crypto investments in the coming six months. Indian Crypto Ecosystem Is Growing, Report Shows Cryptocurrency exchange Kucoin published a report on India’s cryptocurrency ecosystem Tuesday. It features the results of a survey, conducted from October 2021 to June 2022, which the company described as “an in-depth look into the....
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CrossTower is betting on the growing crypto market in India despite the uncertainty over the legal status of Bitcoin in the country. United States-based cryptocurrency exchange CrossTower is expanding operations to India despite the ongoing legal uncertainty over local crypto regulation.CrossTower has set up a local division in India and launched a cryptocurrency trading platform to capture the growing multi-billion dollar market, Reuters reported Sept. 6. CrossTower India has already onboarded 35 employees and is looking to expand its team up to 100 people in the next six to nine....
The CBDC report published by India’s central bank may not be good news for the Indian cryptocurrency market. Crypto was such a hit in India in 2021 that it made the country the fastest growing market for the asset class, surpassing the MENA region and even Europe. At one point, the country’s market jumped by […]
Crypto investments in India have been gaining significant traction over the past year, blockchain data indicates. Despite the ambiguous regulatory situation in the country, more than 15 million Indians have bought or sold digital currencies. Indian Crypto Investments Increase Amid Regulatory Uncertainty A growing number of Indians have put money into cryptocurrencies in the past year, which saw major coins hitting all-time market highs. Investments in crypto assets have increased from around $200 million to almost $40 billion, Bloomberg reported, quoting blockchain forensics firm....
The Indian government is reportedly making additional changes to the country’s crypto bill. The bill, which is listed for the current session of parliament, may be taken up in the budget session instead. According to reports, the government could also “consider bringing an ordinance or special order after the session.” Indian Crypto Bill Needs More Work The government of India is reportedly planning to make additional changes to the crypto bill. The “Cryptocurrency and Regulation of Official Digital Currency Bill 2021” is currently listed to be considered....
India is considered to be a huge market for Bitcoin businesses. The country has a lot of untapped potential when it comes to the Bitcoin sector, thanks to the large population, huge remittance market and lot of unbanked people. Even though ths is all true, the ground reality is something completely different when it comes to Bitcoin adoption. The Indian Bitcoin industry is moving forward at a slower pace than expected, but there is growth nevertheless. The country currently has a handful of home-grown Bitcoin companies while many international players have announced their intentions of....