Who Will Own Larger Crypto Territories in 2023 – U.S or India?

Who Will Own Larger Crypto Territories in 2023 - U.S or India?

Crypto industry is developing its digital access and services covering the interest of larger users scattered around the world. Crypto assets are witnessing an exponential increase besides its price fluctuations in the marketplace. Also, cryptocurrencies are ranking as the best asset class of 2021 with massive global growth rate. 

At present, many countries are adopting crypto and its related services thus becoming crypto-friendly places. Many investors, business giants, institutional firms and even new entrants are very eager to invest and grow their assets into the crypto market. Besides many regulatory acts, users are very curious to experience smooth crypto services in their living countries. 

Crypto Relation with U.S and India

As per the writer’s perception, the crypto industry is maintaining a good relationship with the United States and India. Back to history, India’s communication with the U.S has experienced many ups and downs after the independence in 1947. But at present both the countries are managing a strong and a positive relation in all aspects. 

Besides, the U.S is one of the leading countries in technological areas supporting huge digital innovations and developments. As a surprise to the viewers, India is emerging with a rapid expansion in the crypto market. Thus, as a game changer, India ranks second spot in Global Crypto Adoption Index from Chainalysis for this year. Whereas, U.S slopes down to eighth position from sixth in the scoring. 

Last Day, India proudly waved its flag for securing the first place to own more number of crypto holders across the globe. Besides the legal announcement of crypto services, India is holding a rate of 10.07 crore crypto owners in the world. In addition, the total number of stock investors in India also surged from 70M to 80M within 4 months. 

Also, many startups and existing business firms have started to accept cryptocurrencies as payment gateways. Along with accepting popular blockchain technology and services. Thus, India is scoring up its presence in the crypto industry right from the release of the ban by the RBI in March 2020. 

On the other hand, the U.S is ready to share a different story about its crypto presence in the market. At present, the United States is the leading global leader in 2021, according to Coincub’s Global Crypto Ranking. At this ranking table, India is at sixteenth place among the other competitors. 

Additionally, the U.S has a large cryptocurrency exchange, Coinbase, encouraging all crypto services and thereby performing better on certain aspects as well. Besides supporting, the U.S is also thrashing the crypto industry and its market. Early in September, the former U.S President lashed cryptocurrency over dollars stating it can be fake. 

Rise of Crypto 

Thus, with all such controversies and challenges from all over the world, the crypto industry is still gaining popularity and fame. As technologies are developing, people are showing  more interest to step into the digital world. 

Therefore, the crypto battle between the U.S and India might be an interesting topic of the town but it is not a race with a single winner. The crypto industry is booming with its innovative services which can be offered to any citizen of the world. Thus, it totally depends on the country’s authorities to accept or reject the presence of crypto within their own space. 

Besides the acceptance and rejections, the crypto market is very busy growing its presence with robust strategies in delivering the most promising digital industry.

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A responsible HR Admin with good experience in an international pharmaceutical company. She is passionate about dedicating her time to share her perspective about crypto and blockchain technology.