Chainalysis: India tops global crypto adoption rankings for 2 consecutive years

India's cryptocurrency adoption level has ranked first globally for two consecutive years, Watcher Guru has reported, citing a report by Chainalysis. Chainalysis analyst Eric Jardine said that India is showing a high cryptocurrency adoption rate despite regulations. Binance had its website blocked previously for failing to comply with local regulations in India. However, it later registered as a “reporting entity” with the Financial Intelligence Unit (FIU) under the Ministry of Finance and re-entered the market. This approach appears to have helped increase cryptocurrency adoption in India.