India has witnessed a massive surge in new Bitcoin users, with a staggering 2700% increase over the past three years. This growth can be attributed to the Supreme Court overturning the Reserve Bank of India's ban on cryptocurrency-related services in 2020, which ushered in a new era of financial innovation and investment opportunities in the country.
The availability of cryptocurrency education and the emergence of several cryptocurrency exchanges, such as WazirX, CoinDCX, and Unocoin, have played a significant role in propelling Bitcoin's popularity in India.
Additionally, the Indian government's attempts to create a complete regulatory framework for cryptocurrencies have further invigorated the Bitcoin ecosystem in India. Increasingly, Bitcoin is being recognized as a legitimate medium of exchange, with Indian businesses embracing it as payment and fueling the shift to a digital economy.
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