India has topped Chainalysis' Global Crypto Adoption Index for the second year, but the numbers might be misleading. Despite high adoption rates, actual usage of cryptocurrencies like Bitcoin remains limited. Aggressive marketing by exchanges has inflated figures, offering small crypto incentives for app downloads. Regulatory ambiguity further clouds the scene, with unclear government policies causing uncertainty. However, a new consultation paper on crypto regulations is in the works, potentially paving the way for clearer guidelines and boosting genuine adoption.