Ireland is more ‘cryptocurious’ than other countries, report says

Almost 60% of Irish people surveyed are curious about cryptocurrency, the highest of any country surveyed, while 18% own cryptocurrency.

A new report from cryptocurrency exchange Gemini has dubbed 2021 as a breakthrough year for crypto, with 41% of global cryptocurrency owners buying their first digital assets in the same year.

The 2022 State of the World Crypto Report also revealed that another 41 pc said they were “crypto curious,” meaning they don’t currently own any crypto, but are either interested in knowing more or that he is likely to acquire a cryptocurrency within the next year.

The report surveyed nearly 30,000 adults in 20 countries, including 1,701 adults in Ireland.

Ireland was considered the most crypto-curious country (58%), followed by Germany (53%), Colombia (50%) and the UK (49%).

The survey also revealed that 18% of Irish respondents currently own or have previously owned a cryptocurrency.

Gillian Lynch, Gemini’s head of Ireland and Europe, said the survey shows “a strong appetite for crypto” in Ireland.

Gemini was founded in 2014 in the United States by Cameron and Tyler Winklevoss. The company recently obtained an electronic money license of the Central Bank of Ireland.

“We look forward to bringing our simple and secure crypto services to our customers in Ireland and Europe more broadly,” Lynch said.

Crypto challenges

While the report highlighted strong growth in ownership or interest in digital assets, it also raised concerns about cryptocurrencies, particularly around regulation. More than a third (36%) of European respondents who did not own cryptocurrency said there was legal uncertainty surrounding it.

Last week, the European Parliament voted in favor of new rules to trace and identify transfers of crypto-assets, with the aim of preventing their use in money laundering and other illegal activities.

The goal is to make crypto assets traceable in the same way as traditional money transfers and make the information available to “competent authorities.”

The new rules would also remove minimum thresholds and exemptions, meaning any transfer would have to be traced, regardless of the amount.

Crypto has also been at the center of several hacks in recent months. In August 2021, a major hack of a decentralized finance (DeFi) platform resulted in the theft of over $600 million worth of cryptocurrency.

And just last week, a major hack resulted in an estimated $625 million worth of cryptocurrency being stolen from the Ronin blockchain network, making it “the biggest DeFi exploit ever.”

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