14 Sep What’s limiting bitcoin adoption in Asia? Regulation? Awareness?
Recently, much has been written about the relatively slow rate of bitcoin adoption in Asia. The cause, it’s been said, is the combination of a lack of awareness and the absence of regulation. The latter seems a bit ironic given recent events here in the U.S., including implementation of the BitLicense, the Ripple settlement, and state regulatory battles in California (hurray!) and North Carolina (boo!). But we digress. Uncertainty in regulation, or business in general for that matter, is the enemy of growth and investment.
Notwithstanding the absence of clear regulatory guidance, bitcoin appears to be turning the corner in Asia. Earlier this month, bellwether bitcoin exchange Coinbase setup shop in Singapore, the region’s financial hub.
Despite what the media and regulators may have us believe, low consumer adoption is almost assuredly not the result of a lack of regulation. Rather, awareness generally builds organically over time, as educational energy and resources spread.