Positive regulations can aid India to capture huge value from web3 industry: CoinDCX’s Sumit Gupta

India continues to be the top adopter of cryptocurrency services in the world despite the lack of regulatory oversight and a high tax bracket, according to a recent report by crypto data platform Chainalysis. However, in the absence of government regulations, and high taxes, exchange platforms have witnessed lowering volumes, prompting them to expand beyond trading. In an interview with DH’s Anjali Jain, CoinDCX co-founder Sumit Gupta highlighted the crypto exchange’s efforts to grow the country’s web3 economy, the role positive regulations can play, and the bullish outlook many have for the country’s developers to contribute to the global ecosystem.