India continues to lead the way in the global adoption of cryptocurrencies as it has earned the title two years in a row. In a report from blockchain analytics company Chainalysis published on Wednesday (September 11), the world’s most populous country marked the highest in the overall index ranking for crypto adoption. The report tracks approaches to the digital asset through sub-categories, with 151 countries having been analyzed. The Central and Southern Asia and Oceania (CSAO) area dominated the top of the board, with seven of the top 20 countries located in the region. Since the rise of cryptocurrency, India has been quick to bring in legislation around the subject matter and has routinely been tough in its stance. India enforces a tough stance on the cryptocurrency industry It was in 2021 when the legislative initiative titled ‘The Cryptocurrency Bill’ was introduced to regulate the market. A year later, in 2022, the government imposed a 30% tax and 1% TDS on gains from virtual digital assets or cryptocurrencies which they announced in the Union Budget.