NEW YORK, Jan. 18, 2023 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of Report “North American Blockchain and Cryptocurrency Markets 2022” – https://www.reportlinker.com/p06373426/? utm_source=GNW
According to a new report, the global average of consumers owning cryptocurrency in 2021 was higher than Canada by a percentage, while Canada will have a Nearly 1 in 10. In addition to this, as of November 2022, Bitcoin and Ethereum were among the most preferred cryptocurrencies among cryptocurrency users. Nearly half of the survey respondents also say they support the philosophy of the decentralized financial system and invest in being part of something innovative. Additionally, as of November 2022, the percentage of men shown to have used crypto outnumbered the percentage of women, as a new publication reported.
U.S. Leads the Way in Enforcing Tighter Regulations on Cryptocurrencies as Crypto Market Crashes
Cryptocurrency adoption has increased significantly across the world, and the United States is no exception to this trend. As of July 2022, nearly three-quarters of adults surveyed across the U.S. have never traded, invested, or used cryptocurrencies, but as a new report reveals, cryptocurrencies The projected number of adults owning and using a smartphone was expected to double by 2023. Enthusiasm to own and invest in cryptocurrencies in the US is highest among the 25-34 age group. As the crypto market has developed, the United States has tightened government regulations regarding cryptocurrencies. For example, the country recently witnessed the implementation of the Responsible Financial Innovation Act, which details the rules and regulations of the cryptocurrency market. In addition, the U.S. government also implemented the Crypto Regulation Bill as a strict policy instrument on cryptocurrencies. However, the decline in global cryptocurrency market values beginning in the spring of 2022 has led to a loss of investor sentiment and negative asset price movements across North America. Additionally, the crypto market in the region is expected to witness modest growth in investment and funding in the first half of 2022, and the cryptocurrency market investment scenario is estimated to face continued challenges due to the crash in the second half of 2022. increase. Inflation in the U.S. economy and a slowdown in the global economy have caused further declines in cryptocurrencies. Moreover, the cryptocurrency market has been relatively flat since June 2022 with no signs of growth. Apart from this, the collapse of FTX and the decision of Celsius, a US-based cryptocurrency company, to freeze withdrawals further contributed to the downfall of the crypto market.
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