India Has Become the Second Largest Crypto Market Globally: Chainalysis



Despite challenges with tax laws and regulations, India has become the second largest crypto market in the world in terms of raw transaction volume, surpassing the UK, Turkey, and Russia. According to a report from Chainalysis, India recorded nearly $269 billion in crypto volumes from July 2022 to June 2023, showcasing its grassroots adoption. The country's high tax rates and uneven application of transaction taxes may pose challenges for local exchanges
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