India had an index score of 0.37 followed closely by Pakistan at third position with an index score of 0.36. Vietnam stood at the first position with an index score of 1. India has ranked second, among 154 countries, in global cryptocurrency adoption according to the 2021 Global Crypto Adoption Index by Chainalysis, a blockchain data platform. The Global Crypto Adoption Index measures which country has the highest cryptocurrency adoption. The first index was released in 2020. According to the report, there has been an increase in the adoption of cryptocurrency globally by 881 percent in the last year and by 2300 percent since the third quarter of 2019. As of the date of publishing this report, cryptocurrencies aren’t banned/illegal in India but they are unregulated thus being a grey area for investors. While a cryptocurrency bill is still in the pipeline and yet to be approved by the Union cabinet Ministry, experts believe that once regulated, crypto will emerge as a new-age asset class in the country. More details on the Global Crypto Adoption Index 2021 The Global Crypto Adoption Index is made up of three metrics, all of them weighted by purchasing power parity (PPP) per capita: On-chain cryptocurrency value received: Each country is ranked by total cryptocurrency activity, but the rankings are weighted to favour countries where that amount is more significant based on the wealth of the average person and the value of money generally within the country. On-chain retail value transferred: The goal of this metric is to measure…
- Why did the Delhi High Court restrict use of Amitabh Bachchan’s image and voice? November 25, 2022
- Why did an Indian exchange, CoinDCX, publish its Proof of Reserves days after releasing its R2L ratio? November 25, 2022
- DPDP Bill, 2022 Has Received Good Response From Stakeholders: MeitY’s Ashwini Vaishnaw November 25, 2022
- Twitter Blocks Tweet of CJ Werleman’s YouTube Show Discussing Police Violence Against Indian Muslims November 25, 2022
- Unique Identification Authority of India (UIDAI) says verify Aadhaar as ID proof using QR November 25, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...