In Crypto Adoption These Two Countries Surpass the United States

In the past few years, there have been significant changes in the cryptocurrency industry. Governments that once criticized the crypto market are now accepting it, leading to changes in which countries dominate in terms of adoption. Recently, data from Triple-A highlighted that the United Arab Emirates (UAE) is a major player in the industry. According to the survey, 30.4% of the UAE population owns cryptocurrency. However, reports suggest that the UAE may ban the use of cryptocurrencies for payments, which could potentially affect their position. On June 5th, the Central Bank of the UAE (CBUAE) discussed projects under the Financial Infrastructure Program (FIT), which aims to support digital transformation. Cryptocurrency lawyer Irina Heaver believes that new laws could lead to a ban on crypto payments in the UAE. Vietnam is emerging as a strong competitor to the UAE in the crypto space. The survey shows a significant increase in cryptocurrency ownership in Vietnam, with 21.2% of the population, or over 21 million people, participating in the market. This is remarkable considering Vietnam’s smaller size compared to countries like the United States and Singapore. The United States, despite having 53 million cryptocurrency holders, ranks third as this number represents only 15.6% of their population. With the recent interest in cryptocurrency from both President Joe Biden and former President Donald Trump, further growth in adoption can be observed in the US.