Crypto ownership has nothing to do with distrust in fiat: BIS study
Cryptocurrency owners are “generally more educated than the average,” according to a new study by the Bank for International Settlements. The Bank for International Settlements (BIS), a global financial institution owned by some of the world’s biggest central banks, is trying to dispel the theory that cryptocurrency ownership is linked to distrust in traditional finance.On Thursday, the BIS published a paper on the socioeconomic drivers of cryptocurrency investments in the United States. Employing representative data from the U.S. Survey of Consumer Payment Choice, BIS argued distrust in....
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The UK’s Financial Conduct Authority (FCA) has published a research report that reveals crypto asset ownership has increased a great deal. According to the study, crypto ownership spiked more than 27% since last year as the FCA’s estimates show 2.3 million adults hold digital currencies, up from 1.9 million in 2020. United Kingdom’s Regulator Publishes 2021 Crypto Consumer Report The financial regulatory body in the United Kingdom that oversees 58,000 financial services firms and financial markets has published a report that covers the crypto asset economy. Not only does....
Crypto awareness in the U.K. has risen, but understanding has fallen, the FCA said following a new survey. A new study by the United Kingdom’s Financial Conduct Authority has indicated a significant increase in cryptocurrency ownership in the country.On Thursday, the FCA published the results of a consumer survey which found that 2.3 million adults in the U.K. now hold crypto assets, up from 1.9 million last year. Alongside the increasing number of crypto investors, the study also identified a surge in ownership volumes, with median holdings rising to 300 British pounds ($420) from 260....
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One of the main reasons investors across the globe seek to diversify traditional assets into crypto is to counter rising fiat inflation. A new study has revealed staggering growth in crypto adoption across Nigeria, fueled by limited access to affordable fiat-based financial services in Africa. Crypto exchange KuCoin’s “Into the Cryptoverse Report” highlights that many Nigerian citizens have started using cryptocurrencies as a viable alternative to store and transfer assets. According to the report, 35% of the Nigerian population aged 18 to 60 — or 33.4 million people — have owned or traded....