The United States remains the frontrunner in implementing cryptocurrency regulation

DUBLIN, 10 April 2023 /PRNewswire/ — The “global blockchain and Cryptocurrency Market 2023″ report has been added ResearchAndMarkets.com’s Offering.

Despite crypto in winter, the US is at the forefront when it comes to implementing tighter regulations all around cryptocurrency

The adoption of cryptocurrency worldwide is increasing significantly, and the United States is no exception to this trend. Although nearly three-quarters of adults surveyed across the US have never shopped, invested or spent cryptocurrency per July 2022number of adults who own and use crypto is predicted to double as of 2023, as revealed by the report.

Furthermore, it is also estimated that the payments made via cryptocurrencies will reach a value of billions of euros as of 2022, witnessing a high double-digit growth compared to 2021. Not only the consumers, but also policy makers in the United States are taking steps to incorporate virtual assets such as crypto in the traditional financial and banking system.

With such a fast growing crypto market, regulations relating to cryptocurrency are also somewhat in place. For example, the country recently saw the implementation of the Responsible Financial Innovation Act, which defines detailed rules and regulations for cryptocurrency market.

Furthermore, have Crypto The Regulation Bill is also another tight policy regulation already present in the US economy. Despite the growth in crypto activity, fall off crypto market in 2022 sent negative waves globally, thus reducing cryptocurrency and blockchain-related financing and investment activity.

The crypto The ecosystem faced a slowdown in terms of funding and investments in the North American region as well from H1 2022 onwards after witnessing huge investments in 2021. Cryptocurrency witnessed negative movement in asset prices, with investors withdrawing their investments and ceasing to invest in crypto.

Bitcoin were among the most affected cryptocurrencymainly due to the collapse of FTX, the largest cryptocurrency exchanges and the decision of a large United States cryptocurrency loan company to stop withdrawals.

The story continues

Country in Middle East and Africa catching up to its developed counterparts globally in terms of adoption and ownership of cryptocurrency

Within Middle EastUAE and Bahrain are the foremost when it comes to embracing cryptocurrency as an alternative payment method. The higher the adoption of cryptocurrency in the United Arab Emirates friendly rules and trust of a certain percentage of the population in digital currencies worked in favor of the country becoming the growing crypto hub, as mentioned in the report. The UAE is also opening up more to allow international crypto exchanges to operate in the country.

Abu Dhabi is licensed to be the home of the greatest crypto exchange in the USA

The decentralized financial ecosystem is also growing rapidly in the region, with the majority of transactions in Lebanon is done via DeFi.

However, this proportion was quite low Iraq. Another country shows continuous progress in the introduction of cryptocurrency is Bahrainwhich also happens to be a major Fintech hub and sees a presence of several prestigious crypto exchange.

Moreover, it was the first country to introduce proper regulation related to it cryptocurrency in 2019. The pandemic led to a slowdown in the growth of crypto market i Africamainly due to the shutdown, rising inflation i Nigeria and Kenya, and lack of financial inclusion. IN February 2022a higher proportion of non-crypto owners in the region indicated to be interested in buying cryptocurrency in the following years. In addition to this, countries such as Kenya, South Africaand Mauritiusamong other things, takes political measures to incorporate crypto currencies in the conventional banking system, as reported in the report.

Questions covered:

1. What are the new trends that are changing cryptocurrency market?
2. What is the prognosis cryptocurrency transaction value in 2023?
3. What was the total number cryptocurrency owners globally per December 2022?
4. Which region globally saw the highest proportion of investors finding the concept Bitcoin trade appealing per June 2022?
5. What were the most important reasons for investing in Cryptocurrency in the USA as of July 2022?

Countries covered

• Argentina

• Austria

• Brazil

• Canada

• China

• France

• Germany

• India

• Indonesia

• Malaysia

• Mexico

• Nigeria

• Peru

• The Philippines

• Singapore

• Switzerland

• Thailand

• Turkey

• UAE

• Great Britain

• USA

• Vietnam

Key topics covered:

1. Management summary

2. Global overview

3. Banking activity and trends

4. North America

5. Latin America

6. Europe

7. Asia-Pacific

8. Middle East

9. Africa

A selection of companies mentioned in this report includes

• Ally

• Amazon

• apple

• Asian Bank

• Goldman Sachs

• HSBC

• JPMorgan Chase

• MasterCard

• Meta

• Morgan Stanley

• PayPal

• Royal Bank of Scotland

• Visa

• Wells Fargo

For more information on this report, visit https://www.researchandmarkets.com/r/xvsekg

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