Some of the most exciting growth in crypto usage is in big emerging markets where currency debasement is common and the specter of political turmoil is ever-present, says NoelleInMadrid. Opinion.
are just a few that come to mind. Many struggle with the absence of reliable onramps and with the difficulty of custody. But few are even remotely concerned about the U.S. regulatory hostility.
All this serves as a reminder that the U.S. may have the largest financial market in the world, but crypto’s purpose goes well beyond the speculation that financial markets serve. What’s more, many developing economies are accustomed to regulators overstepping their bounds in terms of limiting financial freedom, and thus their citizens find the decentralized nature of many crypto assets easier to understand and appreciate than do individuals used to more open regimes.
Throw in the increasing probability of significant currency turmoil ahead in emerging countries’ economies, inflationary pressures and a strong dollar, and, in turn, the likelihood of political turmoil, and you can see how the “insurance” and “hedge” qualities of crypto assets such as BTC and stablecoins become even more compelling. Monetary liquidity headwinds may be significant, but they are not the whole crypto market story.
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