According to crypto market analysis firm Chainalysis' Geography of Cryptocurrency report for 2022, India was the top valued cryptocurrency market in the central, southern Asia and Oceania (CSAO) region.
Between July last year and June this year, the Indian cryptocurrency investments market was valued at $172 billion - significantly ahead of second-placed Thailand, which drew less than $150 billion. However, since the unveiling of Budget 2022, heavy taxation on crypto investments in India, coupled with a lack of clarity on how such investments would be regulated, have seen exchanges take a hit.
This story is from the September 26, 2022 edition of Hindustan Times.
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This story is from the September 26, 2022 edition of Hindustan Times.
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