India Shines as the Second-Largest Global Hub for Cryptocurrency!

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According to a recent report by Chainalysis, India has emerged as the second-largest cryptocurrency market in the world based on estimated transaction volumes. The report indicates that the country received an estimated $268.9 billion worth of crypto assets from July 2022 to July 2023, surpassing the US and China in terms of transaction volume. This comes as a surprise, as India taxes cryptocurrency at a much higher rate than most other countries, yet it has not dampened the country’s appetite for cryptocurrencies. This shows the progressive growth of India in the digital world.