Srikanth
The crypto sector exceeded the market valuation of about $3 trillion last year, and a massive drop of about $1 trillion was detected the previous month. As per the recent report of CoinKickoff, around twenty most ‘crypto-stressed’ cities in the world have narrowed down. Three of the towns belong to India. On the crypto-stressed list topped by Amsterdam, India’s Bengaluru, Chennai, and Ahmedabad have secured 11, 15, and 19, respectively.
As per the statistics, Bengaluru, Chennai, and Ahmedabad have recorded their crypto stress levels at 27.08%, 26.38%, and 25.51%, respectively.
The regulatory draft currently working on the crypto laws around the world is the main reason why investing in these digital assets is being seen as a stressful part of the world.
As long as the crypto sector is not primarily regulated, investors will be skeptical about exposing themselves to financial risks associated with the industry. In India, crypto investors are stressing out about dabbling in the sector.
From December, India will be taking up the presidency of the G20 group. They are going to be on an international level. India is considering it its top priority to work with the other 19 member nations of the G20 in formulating a framework around cryptocurrencies.
Before the happening, Egypt’s Cairo, Canada’s Toronto, Germany’s Frankfurt, UK’s London, and Russia’s Moscow have also made it to the list of the 20 most crypto-stressed cities in the world.
The worldwide adoption of crypto jumped by 880% in 2021, in which the counties like India, Vietnam, and Nigeria are leading the take-up.
Meanwhile, some major cities are experimenting with newer infrastructure technologies to drive crypto adoption, with ATMs and retailers accepting crypto as payments.
The analysis found that there are 131 countries where cryptocurrency can be bought and sold, and residents of the United Arab Emirates (UAE) are the most anxious about their investments.
UAE regions such as Dubai and Abu Dhabi are trying to establish themselves as global crypto hubs. There is no doubt that investors from these areas feel anxious when the markets experience a downfall.
