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is India going to have Crypto Adoption?

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@reeta0119
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When we talk about crypto in India then the first thing we discuss is regulation. Its true that there is no crypto regulation in India and even there is an official update about it that we are going to have it. India has always been a point of discussion in the crypto space and there have many instances when the media reported that govt might ban crypto in India. Looking at the current scenario it seems like things are going positive because govt has never talked negatively about it and even recently Indian finance minister Nirmala Sitharaman has given a hint that the bill is almost ready and we have covered all possible ways to explore the best way possible with Crypto.

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Its expected that crypto will not be considered as a currency but will hive treated as one of the tradable assets and this is good enough for the community. Now even indian media has started taking things seriously and many traditional media channels have started reporting positive things and real updates about the crypto world which I think is very good.

According to media reports, India also ranked #2 in a poll of nations that use cryptocurrency the most, with 9% of the respondents claiming they used crypto. Meanwhile, the United States and the United Kingdom had the lowest proportion of cryptocurrency owners, with 8 percent and 9 percent, respectively.

India is one of the countries where new people are entering crypto on a bigger number and this is the data that has been shared by many exchanges before. Young people are adopting this changed and joining the crypto space. This growth has been going on when we don't have regulation in place and even there are people who are not sure of crypto and think that its a Ponzi scheme. With regulations coming on the place this will help more people to try and understand crypto which will surely take a lead as an increase in the community.

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Crypto exchanges are growing significantly in the country and this is certainly a good sign because they are going to bring many more or users and even big exchanges like coinbase are also ready to enter the Indian market. Its because they see the potential here and it will get them more business so before its too late they want to join the race.

India is lacking the institutional investment in crypto and its because of no regulation however if regulation happens then this will grow and we can see many companies making entries to invest in crypto. Matic is one of the great projects that is created by India and I expect that there is a lot to happen in the coming months and years provided we have patience and get regulation by the government.

Thank you so much

Stay Safe

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