# Crypto in South Asia: Key Things to Know

Source: https://www.ignasdefi.com/p/crypto-in-south-asia-key-things-to
Kiwi News: https://news.kiwistand.com/stories/Crypto-in-South-Asia-Key-Things-to-Know?index=0x66f2acca07ab9a51cb86565de96ea8bb8036415d3bd4469b37757699689adeb783dcef80
Submitted by misha on 2024-09-24 UTC, 3 upvotes, 1 comment

## Summary

Crypto discussion on X is dominated by Western and English-speaking voices, which the Pink Brains team says could blind people to opportunities in Asian markets. The team has grown to six members, four of them from Vietnam, and found the Vietnamese crypto market and mentality differ markedly from Western ones. An earlier Pink Brains post reported that OpenSocial had more users than Farcaster or Lens despite much lower mindshare on X, with Indonesia, Vietnam and India dominating its user base. Mai, who runs the Pink Brains official X account, co-wrote this post sharing insights on the South Asian crypto market.

## Article

Over a year ago, my high school buddy Arthur and I co-founded Pink Brains, a DeFi creator studio.

Our team has since grown to six members, with 4 coming from Vietnam. Through our discussions about crypto, it became clear how different the Vietnamese crypto market and mentality are compared to the West, which dominates the narrative on X.

But as crypto grown into a global industry, the dominance of Western and English-speaking KOLs could blind us to opportunities beyond our Western bubble.

For example, in my last blog post on the Current State of the Market, I was surprised to find out that OpenSocial had more users than Farcaster or Lens, despite much lower mindshare on X. The secret to their success? Indonesia, Vietnam, India dominate the user base.

So, for this blog post, I and Mai, the brains behind the Pink Brains official X account, teamed to share insights on the South Asian crypto market. Feel free to follow our Pink Brains account for unique insight on crypto, market updates, a…

## Comments

**macbudkowski.eth**: > "India continues to be a major player in the global crypto market, despite having changing regulations and taxes. The country has a high 30% tax on crypto gains and a 1% tax on all transactions, which has led some investors to seek out international exchanges with fewer restrictions."

That's hard. Anyway, I learned a lot from this one - it seems like a great read before going to Devcon!