Across the globe, barriers to crypto adoption are thawing. Accordingly, world governments are demonstrating a growing interest in legislating the space — implementing new guidelines and laying out comprehensive frameworks regulating cryptocurrency. Several new hotspots are arising, from Brazil, with its blockchain-based national IDs1, to Hong Kong, which received a Crypto Readiness Score (CRS) of 8.36 in 2023.2 A cautious sense of optimism is returning to the industry, and Bitcoin’s remarkable rebound has done nothing to tamper expectations.
Bakkt’s report, “The Global State of Crypto: A global analysis of markets and regulation”, delves into key areas of innovation and regulation as they exist in diverse international markets. As Bakkt expands its crypto operations globally into areas such as Latin America and East Asia, this analysis is especially relevant. Three trends from the report include:
Certain regions are emerging as leaders in crypto adoption, particularly Central Asia, Southern Asia, and Oceania. These regions boast six of the top ten countries in the Chainalysis Global Crypto Adoption Index, each having unique drivers of adoption, from economic factors to technological accessibility.
This report expounds on the above insights and many more, detailing the real stories behind the headlines and painting a holistic picture of the digital asset industry as it exists in the world today.