News Flash: Crypto Regulations in APAC
Updated: Aug 11, 2022
In recent news, the APAC region (Asian Pacific) continues to see the highest cryptocurrency adoption rates, with no signs of slowing down. Many lawmakers and country leaders are looking to develop new regulations to guide cryptocurrencies into the mainstream, especially for major financial institutions.
Below are some key events showcasing that these changes are closer than we think:
Currently, digital payments are widely used and growing; such as over 91% (projected to be worth $179.8 billion by 2025) of the entire American will be done using crypto.
Within the global population, a massive portion of people is severely underbanked, giving many crypto companies the potential to bridge the gap.
Gemini's crypto report for 2021 found that the Asia Pacific had a final break year for cryptocurrencies. Within East Asia, 45% of cryptocurrency investors were entirely new to the scene.
With some of the world's high adoption rates, countries like Indonesia ranked number one with over 41%, with Singapore coming in second at 30% and Hong Kong at 24% at number three. Within the region of East Asia, every country has shown different attitudes and feelings regarding the future of digital assets.
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