India ranks first among 154 nations in grassroots crypto adoption

India ranks first among 154 nations in grassroots crypto adoption

Daily Current Affairs   /   India ranks first among 154 nations in grassroots crypto adoption

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Category : International Published on: September 20 2023

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  • India has been ranked first in grassroots crypto adoption, even amid a tough regulatory environment, according to Chainalysis’ 2023 Global Crypto Adoption Index.
  • The country ranked first in four parameters including centralized service value received, retail centralized service value received, DeFi value received and Retail DeFi value received. Last year India stood fourth.
  • Nigeria ranked second in the index, followed by Vietnam, United States and Ukraine.
  • The report also said that low-income countries saw a dramatic uptick in crypto adoption following a slump in late 2022, spurred by the collapse of the FTX.
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