In a gloomy outlook for the blockchain industry, Indian crypto exchange CoinDCX has announced its acquisition of BitOasi, a move that signals its expansion into the Middle East and North Africa. The terms of the deal, including the purchase price, remain undisclosed.

This acquisition comes amid increasing global regulatory scrutiny on cryptocurrencies and their exchanges. It raises concerns about the potential risks and challenges CoinDCX may face in navigating the complex and uncertain regulatory landscape in these new markets.

While the expansion could potentially open up new opportunities for CoinDCX, the prevailing pessimistic market sentiment suggests a tough road ahead. The industry's future remains clouded by regulatory uncertainties and market volatility.