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A new report shows that India has over 115 million crypto investors, and the country’s crypto economy is expanding despite the current market downturn, with more than half of those surveyed planning to boost their crypto investments in the next six months.On Tuesday, a<a href="https://www.coingabbar.com/en/cryptocurrency-exchanges" rel="noopener noreferrer nofollow"> cryptocurrency exchange</a> published a report on India’s cryptocurrency ecosystem. It features the findings of a survey conducted from October 2021 to June 2022, which the company characterized as an in-depth examination of the evolution of the blockchain sector and crypto space in India.The survey respondents included 2,042 Indian citizens aged 18 to 60, according to the company, adding that 1,541 self-identifying crypto investors and 501 crypto-curious consumers, were interested in investing in cryptocurrency in the next six months.Citing the survey findings, the report details that “as of June, there are around 115 million crypto investors in India who either currently own cryptocurrency or have traded in cryptocurrency in the last six months, accounting for 15% of the Indian population aged 18 to 60.”Despite the implementation of new tax regulations, the number of crypto investors has increased somewhat in recent months, the company wrote. With the country’s massive technology-driven youthful population, rapidly growing internet users, and financial growth, crypto is on its way to increased adoption, making India a key crypto center.The United Nations Conference on Trade and Development recently estimated the number of cryptocurrency investors in India. In a June report from the organization,<a href="https://www.coingabbar.com/en/gabbar-gbr-token" rel="noopener noreferrer nofollow"> 7.3% of India’s overall population holds digital currency.</a>The report adds that despite the current crypto market downturn, more than half of crypto investors want to expand their investment in crypto in the next six months, demonstrating a positive attitude toward the sector.The major impediments to investing in crypto assets, according to survey respondents, are knowledge, legislation, and security. As per the report, “uncertainty in government regulations has been a major deterrent to potential investors.”India is still attempting to regulate cryptocurrencies. On crypto policy, the Indian government has been engaging with global institutions like the IMF and the World Bank. Meanwhile, the Reserve Bank of India (RBI) has proposed a ban on all cryptocurrencies, including bitcoin and ether. This week, the governor of the central bank warned that the cryptocurrency market might collapse, causing small investors to lose money. The RBI is also planning to launch its own digital currency (CBDC).

Indian Cryptocurrency Market Is Growing: Report Shows the Country Has 115 Million Cryptocurrency Investors

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