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Why is Asia leading in Crypto Adoption while US policy Affect the Market?

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by COINS NEWS 6 Views

Is very obvious that while U.S. isn't currently at the forefront of crypto adoption, its regulatory approach significantly affects market structure. CPI report, SEC decision, political ideology, economic situation etc mostly have an impact to this industry. I was shocked that Foresight Ventures recent reports shows that Asia countries lead global crypto adoption by 60% and surprisingly Chainanalysis's Geography report place US in 4th while 5 Asia countries were among top 10 with India (1st), Indonesia (3rd), Vietnam (5th), Philippines (8th), and Pakistan (9th) while Nigeria claim 2nd spot. What really amazes me about this research is how regulatory policy of this country have little to no impact to the market structure.

Shouldn’t crypto adoption rate affect market sentiment? So why do US policy have larger effect than the leading countries? Could it be the economic size and influence on policy-making bodies like the G20 or impact of US regulatory body decisions on other countries, since most tend to follow? Could it be the GDP, since US top countries by GDP? What could be the major factor that makes the US have a greater impact on the general crypto market structures?

submitted by /u/Sad-Struggle7797
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