India leads the world in crypto adoption Index placed at the top for the second consecutive year, driven by an estimated 190 million unbanked citizens turning to digital assets for financial access. Yet, the government imposes a 30% tax on crypto gains, a 1% TDS on transactions, and stringent KYC/AML requirements, while the Reserve Bank of India (RBI) has historically pushed for bans.

The Securities and Exchange Board of India (SEBI), India's market regulator, has taken decisive action against this major U.S.-based quantitative trading firm, accusing it of manipulating key stock indices through sophisticated high-frequency trading (HFT) strategies. This unprecedented crackdown not only highlights the complexities of modern financial markets but also raises critical questions about regulatory oversight, market fairness, and the impact on retail investors.