Coinbase made Investment in CoinDCX Exchange

Hello to Hive Fam,

I hope that life is treating you well wherever you are in this part of the world.

Cryptocurrency is a business where exchanges play a very important role, and this is a platform where we can buy and sell crypto and not just buying and selling, but rather, they offer a lot of services. We have many exchanges available in the market. There are 2 types of exchanges available: the first category is the local exchanges that are operating in the specific country only, and the other category is international exchanges, which are operating in many countries. in the local category there are so many exchanges that we don't even know for other countries but if we talk about the international exchanges there are so many and we must be aware of many names in this category.

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Coinbase is a crypto exchange based in the US, and this is a very big exchange. This exchange is also listed on the stock market, so you can understand its value, and this has a big user base also in the US and many other countries. I was thinking that the exchanges only try to expand their operations in different countries, but this week I got to know that exchanges also invest in other exchanges. Needless to say that they invest in the exchange, which is growing, and if they do not have the presence or if they have, then they also invest.

Coinbase has invested in India's popular exchange called CoinDCX. This is great news for the Indian cryptocurrency industry because if big exchanges like Coinbase choose to invest in any Indian exchange, it can be a great milestone not just for the exchange as a business but also for users. With this money exchange do more development and bring innovative products and services to encourage more people to be part of the industry and to bring more value in the entire ecosystem, specifically in the indian market.

Cryptocurrency exchange Coinbase Global said on Wednesday it had invested in CoinDCX, which the Indian crypto exchange said values it at a post-money valuation of $2.45 billion.

I don't know whether you are aware or not, but the Indian cryptocurrency space is highly complex. There are many reasons why this segment is complex in the country, and one of the reasons why the government is not supporting it but they have forced taxation without any clear intention and guidelines, because of which the people who are involved in this business are suffering. Unfair taxes are implemented, which is a way through which the government is trying to discourage people from investing in crypto or working in this segment, but still, millions of users are working in the crypto business, and many companies are also involved.

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I read a lot of tweets about the Indian crypto ecosystem, but the government never talks about it in the open. I don't know the exact reason why the government is not playing on footfront and they are taking backfoot on crypto but still they are more interested to earn tax revenue in this segment of the business which I think makes the entire situation complex But I'm still hopeful that maybe in future we will see something good happening in this market that will encourage the businesses and people to do even better in crypto segment. Thank you!