Pakistan Ranked 10th in Crypto-Friendly Countries, Surpassing India
By
May 4, 2024
Despite India’s reputation for its thriving tech industry and tech-savvy population, it’s surprising that Pakistan ranks higher in crypto-friendliness. India holds the 11th spot on the list, while Pakistan is at 10th.
This difference comes as more people worldwide are getting into cryptocurrencies. In 2023, the number of cryptocurrency owners increased from 432 million to 580 million, showing the growing popularity of digital currencies.
Some countries are embracing crypto advancements, while others are imposing regulations that make it tough for cryptocurrencies to flourish. Argentina leads as the most crypto-friendly nation, with the United States close behind, despite challenges like high mining costs.
In contrast, India is proceeding cautiously. Cryptocurrencies exist in a grey area in terms of regulations, and new tax rules were introduced in the 2022 central budget. Meanwhile, Pakistan currently has fewer regulations on cryptocurrencies.
The global rise in crypto ownership indicates growing interest in digital currencies. This trend is prompting countries to decide whether to support or regulate cryptocurrencies more strictly. As India determines its stance on cryptocurrencies, it will be intriguing to see how it responds compared to other nations.
