7% Indians own crypto, 7th highest globally: UN

About 7.3% of India’s population owns digital currency, according to the UN, which said that the use of cryptocurrency rose globally at an unprecedented rate during the pandemic.
The UN trade and development body UNCTAD said that in 2021, developing countries accounted for 15 of the top 20 economies when it comes to the share of the population that owns cryptocurrencies.India ranked seventh among global economies in digital currency ownership as a share of population (see graphic).

In three policy briefs published on Wednesday, it said that while these private digital currencies have rewarded some and facilitate remittances, they are an unstable financial asset that can also bring social risks and costs.
It said that recent shocks in the market suggest that there are private risks to holding crypto, but if the central bank steps in to protect financial stability, then the problem becomes a public one.