Latin America is increasing its exposure to the world of cryptocurrencies and many are already expecting the authorities to soon come up with better regulations that allow the safe and legal use of digital assets.
A recent study published by global communications company Edelman Inc. found that almost 60% of the population believe that cryptocurrencies should have a more complete regulatory system. Spain, Colombia and Mexico stand out from all these countries as markets in which citizens are hungry for better regulations.
The Brazilians believe that fewer regulations are required or that at least the existing regulations are sufficient for the ecosystem to develop normally.
The results in this regard are not unexpected as the Colombian market has some time to reflect this trend. A study by the P2P Paxful cryptocurrency exchange platform found that the 58% of the population believed that regulatory efforts in the country could contribute to increasing interest in the use of cryptocurrencies.
Developing countries are more crypto-friendly despite the uncertainty
The survey also showed an increase in confidence in cryptocurrencies in developing countries. Brazil, Colombia, Argentina and Mexico are on the list with a high level of trust of over 60%.while unfortunately Spain has only 40% trust, although the population has a better view of the tokens compared to last year and is increasing by 12%.
With regard to the future, doubt is the queen of the party, as uncertainty exists in most parts of the world about the impact of the use of cryptocurrencies on the future of global finance. Only 6 countries (United Arab Emirates, Indonesia, Saudi Arabia, Thailand, India and China) are over 50% optimistic on average.
Colombia is the Hispanic country with the highest optimism about the future of cryptocurrencies With 47% of the population in Spain, only 29% of the population believe that the effects of the cryptocurrency revolution will be positive.
The panorama of the survey is generally quite positive. Edelman has been doing this type of research for 20 years For the last study, they interviewed more than 24,000 people online in 28 different countries.
The survey was conducted between October 19 and November 18, 2019. Will the mood have changed after halving?
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