Evaluating Global Crypto Adoption Amid Economic Instability

In recent times, while the U.S. has been slow in developing crypto regulations, the demand for crypto assets has been rising globally, especially in countries facing high inflation, weak currencies, and financial restrictions. Pakistan, the fifth largest country in population, announced it will not legalize cryptocurrencies to avoid penalties from the Financial Action Task Force (FATF), despite significant crypto activity among its population as a hedge against the devaluing rupee. Similarly, Nigeria, the sixth largest country, is expected to devalue its currency, leading to increased interest in crypto as a financial safeguard. These trends highlight that while the U.S. leads in financial markets, developing nations, particularly those with unstable economies, are increasingly turning to crypto assets for financial stability and freedom. This underscores crypto’s broader purpose beyond mere speculation.