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India ranks first in crypto adoption despite regulatory setbacks

Shortpedia

Content Team
Image Credit: forkast

India, despite immense regulatory challenges, has secured the top spot in Chainalysis’ 2023 Global Crypto Adoption Index. This marks a significant comeback from last year when India had dropped to the fourth spot in Chainalysis’ 2022 adoption index. India ranks first in four of the five sub-categories considered for the 2023 index. These include centralised service value received, retail centralised service value received, DeFi value received, and retail DeFi value received.