India launches first global index of cryptocurrencies in the nation
India, home to millions of cryptocurrency enthusiasts, has seen a huge surge in crypto adoption and usage in 2021. With the onset of 2022, a Mumbai-based firm, TickerPlant, has launched the first crypto market index in the nation, which is titled IC15.
India is taking another step forward
India is taking another step forward with the release of IC15. The global index of cryptocurrencies is launched under the CryptoWire application, which represents real-time market data, news, and important facts for investors. The IC15 aims to further the vision behind the creation of CryptoWire in December.Furthermore, IC15 will track the data of most traded and liquid cryptocurrencies in the market, giving the citizens of India a shot at accuracy. These currencies include Bitcoin, Ethereum, XRP, Bitcoin Cash, Cardano, Litecoin, Binance Coin, Chainlink, Avalanche, Dogecoin, Shiba Inu, Solana, Uniswap, Polkadot, and finally, Terra, as per the Times Of India.
Index Governance Committee from CryptoWire will be responsible for maintaining and administering the index every quarter. The index was given the base value of 10,000 with a base date of April 1, 2018.
Jigish Sonagara, the managing director and CEO of CryptoWire, pointed out that "with the launch of India's first index of crypto, IC15, we intend to complete the knowledge circle for the crypto and blockchain ecosystem. This will not only push the 'learn before earning' initiative but also serve the industry with a powerful intervention."
Crypto situation worsens
The Crypto Bill for India aims to ban the usage of blockchain-based assets for payments. The policy is very strict and might lead to jail without bail. On the other hand, crypto exchanges have also been under the crosshairs of the regulatory authorities.WazirX, the biggest exchange in the country, was recently accused of tax evasion, and after a huge crackdown, the authorities claimed more than 9 million USD from prominent exchanges in India.
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