Indian Autodriver Accepts Cryptocurrency Payments Indicating Market Rise Outside of US

Cryptocurrency adoption has peaked in the last few years, with nations acknowledging the technology more and more with time. Now, with trillions in market cap, it is among the most favored forms of investments among most age groups. Even the Government and local banks that have been against this technology are slowly turning to acceptance. One prime example is Goldman Sachs revealing Bitcoin ETF holding, which is shocking for many. Now, this tide of crypto adoption has reached India as an auto driver seen accepting cryptocurrency payments.

Indian Autodriver Accepts Cryptocurrency Payments

India, known for its rich heritage, cuisines, and multi-culture, has become a crypto follower. This revelation comes after India had the biggest crypto adoption, per Hindu reports. However, the local Bengaluru auto driver endorsing cryptocurrency payments despite the Indian government imposing a heavy crypto tax is the new highlight.

India, a country in South Asia, has the highest crypto adoption, but the country has also imposed a heavy crypto tax of 30%, one of the highest in the world. However, the adoption has not stopped.

The news got in the limelight when someone posted an image of the crypto ride, which has a white paper facing the clients reading, “We accept cryptocurrency.”

Bangalore, which is known as the Silicon Valley of India, has been a hub of tech lovers. And now, crypto’s hype is also visible on the roads. Nevertheless, this is not something new, and many similar incidents of crypto payments accepted by locals are in the news every other day.

When India is progressing towards crypto adoption, the discussion of Kamala Harris firing Gary Gensler has become a prominent appeal in the US. This becomes more noteworthy as Harris and Gensler both are known for their criticism of cryptocurrency.

As the US presidential elections are on the horizon, crypto has become an important topic of discussion, and Donald Trump leading Harris in this race seems more prominent as he has become a pro-crypto lover, gaining investors’ support.

Final Thoughts

Cryptocurrency payments are taking over the world, and now the local auto drivers in India are also turning towards this to beat the dominance of the US dollar. However, similar to the US, India also lacks crypto regulations and has imposed a high crypto tax, which has its share of positive and negative views. With this, the crypto adoption peak is in light, and more might come as this topic has become the deciding factor for the presidential election 2024.

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Pooja Khardia

With years of love for reading and 5 years of content writing experience, I’m here, working on my favorite writings about cryptocurrency. I’m actively looking for trending topics and informational statistics to curate the best content pieces for crypto enthusiasts. Staying updated with trends and learning the basis and advancements of this field is the best part of the day.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.