India Surpasses Singapore in Centralized Crypto Exchange Inflows
India's crypto inflows have surpassed those of Singapore and Australia in a recent regional analysis by Chainalysis. Between July 2025 and June 2026, India received $88.4 billion in centralized exchange inflows, making it the largest market in Chainalysis's Central & Southeast Asia and Oceania region.
This figure positions India ahead of Singapore's $82.3 billion and Australia's $79.3 billion during the same period, despite the country's broader crypto economy contracting by 14.7% to a total of $135 billion in overall activity.
The dominance of offshore platforms has been linked to India's tax regime, which imposes significant levies on crypto trading. The government introduced a 30% flat tax on virtual digital asset income and a 1% tax deducted at source (TDS) on transactions in the 2022 budget, with Finance Minister Nirmala Sitharaman retaining both levies unchanged in the 2026 Union Budget.