Majority of the 1,200 US citizens surveyed by YouGov think that investing in cryptocurrencies is risky. Only 18% of respondents to the survey said they thought it was safe, while 55% said it was either very risky or somewhat unsafe.
In addition, even cryptocurrency owners are almost as likely to believe that it is risky to invest in digital assets as those who haven’t yet done so. The findings also imply that many Americans want the US government to increase regulation of cryptocurrencies. 46% of respondents overall, including 55% of Democrats and 50% of Republicans, stated they were in favor of crypto regulation.
The findings of this YouGov survey indicate that while many Americans are aware of the risks involved in investing in cryptocurrencies, they also see room for growth in the sector with stronger government regulation. It is yet unclear whether upcoming legislations will be able to offer customers sufficient protection to promote continued expansion of cryptocurrency as governmental organizations continue to struggle with how to regulate these marketplaces.
Furthermore, 66% of Americans were aware about the current events surrounding FTX and its disgraced ex-CEO Sam Bankman Fried and his arrest. The majority of individuals surveyed, especially older Americans and those who are already engaged in the cryptocurrency market, believe that Bankman-Fried will be found guilty of his crimes and that he should be sentenced to prison for them.
Given the openness to adopting cryptocurrencies and the rising number of crypto ATMs in the region, North America has historically dominated the cryptocurrency market on a global scale. Europe and Asia Pacific will come after North America.
On the other hand, a report revealed that both Germany and the US grabbed the top spots in terms of crypto sector domination. The report claimed that the dominance is a result of progressive regulatory environments and also due to investments in Bitcoin firms.