Cryptocurrency acceptance has been recorded significant growth globally, with the United Arab Emirates (UAE) and Vietnam being leaders in embracing digital asset trends.
Data A recent report from Triple-A specifically showed that around 30.4% (or 3 million UAE residents) now own cryptocurrencies, making the country a global leader in fintech.
Runner-up in the race for cryptocurrency adoption
Similarly, Vietnam has also seen a significant increase in participation in the cryptocurrency sector, with 21.2% of the population (equivalent to about 21 million people) also entering the coin village..
In this race, Vietnam has successfully surpassed Singapore – a developed country famous for its complex financial context.
Vietnam’s preference for cryptocurrencies reflects a broader trend in emerging markets, where digital assets are increasingly seen as a viable avenue for investment and wealth diversification.
Meanwhile, despite holding incredible financial power, Singapore still shows a more “conservative” cryptocurrency adoption rate at 11.1%, showing cautious but still “steps” steadily increasing in this field.
The United States, Iran, the Philippines, Brazil and Saudi Arabia also have significant adoption rates, highlighting the diverse appeal of cryptocurrencies across different economic contexts.
The level of cryptocurrency ownership varies across countries. Source: Triple-A
Thanks to regulatory milestones like the approval of BTC ETFs and ETH spot ETFs, about 15.6% of the US population (53 million people) now owns digital currencies.
On the other hand, countries like Iran and the Philippines have adoption rates of 13.5% and 13.4% respectively, indicating a strong trend towards digital assets as a tool for financial empowerment and wealth accumulation.
Global cryptocurrency regulation trends: How are countries adapting?
Furthermore, as countries around the world embrace cryptocurrencies, they seem to be stepping up their respective legal frameworks to govern the sector.
For example, the Monetary Authority of Singapore (MAS) recently Updates the Payment Services Act, introducing a more comprehensive legal framework.
These amendments include provisions on digital payment token (DPT) custody services, which facilitate the transmission and monitoring of cross-border money transfers.
The scope of these regulations also extends to transactions involving funds from outside Singapore, giving MAS the power to enforce stringent measures against DPT service providers.
This measure is intended to effectively address risks related to digital assets. MAS will be able to enforce standards related to anti-money laundering, countering the financing of terrorism, user protection and financial stability.
At the same time, MAS has published a instructin there sets consumer protection standards for DPT service providers, which will take effect from October 4.
In contrast, the United States has adopted a stricter stance on cryptocurrency regulations. Although they recently authorized spot BTC and ETH ETFs, there are still strong desire for a pro-crypto candidate will win in upcoming US electionpotentially opening up even more opportunities for digital currencies in the region.
Itadori
According to Bitcoinist
