Cryptocurrencies — An Assessment of Global Adoption Trends

Abstract

Government and state approaches to any venture first begin with regulations being kept in place to safeguard its interests as well as those of its citizens. Cryptocurrency adoption on a global scale has been led by major players such as the U.S. and China, while some smaller countries have achieved comparable success. In this chapter, we analyze and assess a country’s level of cryptocurrency adoption on the basis of its regulatory framework. We then classify this approach according to the business function that regulates the use of these cryptocurrencies. We also derive a gradual approach to cryptocurrency adoption and regulation, which can be used by fledgling countries new to cryptocurrency.