Cryptocurrencies have been in the public eye with mixed reviews across the world. According to surveys conducted by data analytics company Morning Consult, Latin American countries value cryptocurrencies more than the US. The survey questions were put to both general adults and cryptocurrency owners in Argentina, Chile, Colombia, Mexico and the US. Results show that in all the Latin American countries, a large majority of both general adults and cryptocurrency owners are optimistic about the future of cryptocurrencies in the upcoming decade.
In general, the opinions of American adults were found to be far gloomier about the crypto sector. For a question about the prospects of crypto being around in the next 10 years, around 82% of crypto holders from the US said yes whereas only 51% of the general population agreed. On the other hand, the results from the Latin American countries ranged from 81% to 90%. This response is not completely surprising considering the situation of the Argentinian Peso, which has been performing poorly.
When asked whether digital currencies are a reliable source of payment or investments, only 38% of the US adult population believed in them. Unfavorable governmental regulations and mainstream media coverage of cryptocurrencies are probably the leading growth inhibitor in their case. Compare this with the 80-90% of the Latin American countries where a majority of the general population and cryptocurrency owners shared the same belief.
Agnes Gambill West, a visiting senior research fellow for decentralized finance, based at the George Mason University, gave her opinion on the US governments’ stance. According to her, the US can “fall behind its global peers” since the US regulators are seen to be emphasizing on ‘enforcement actions’ as opposed to “actual regulatory frameworks”.
In conclusion, Morning Consult’s survey has revealed that the population of Latin American countries are far more optimistic about the future of crypto than the US. With their governments being more receptive towards crypto and with a majority of the population encouraging the use of cryptos, this sector is expected to do well in these nations.
James Wilson
- 2023-04-06
What Are Latin American Countries Thinking About Cryptocurrencies?
Morning Consult has released a survey showing that Latin American countries are more optimistic and receptive towards cryptocurrencies than the US. This article looks at the survey results and examines the possible reasons behind this difference.
