The cryptocurrency craze that attracts 100 million Indians is fraught with risk

The cryptocurrency craze that attracts 100 million Indians is fraught with risk

While crypto investments as part of total savings in India are still small at $7 billion — or 0.3% of gross domestic product — an unregulated environment may push more domestic savings toward the asset class and could endanger household savings, Bloomberg Intelligence strategists Gaurav Patankar and Nitin Chanduka wrote in a note. India, which ranks second among 154 countries in terms of crypto adoption, has seen a 10-fold rise in …

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