A Crypto Paradox IS Playing Out in the Middle East
November 23, 2022 at 08:05 AM EST
As cryptocurrencies and the blockchain technology powering them gain traction around the world, the Middle East, which has many authoritarian regimes, is leading in supporting the adoption of these technologies. Yet the very foundation of this success is partly based on availing ways to evade control by centralized and authoritarian regimes.
A report authored by Chainalysis and released in October reveals that the volume of crypto transactions is on a upward trajectory in the Middle East in a way that beats every other region around the world. Turkey, which is experiencing the highest level of inflation on the globe, has banned cryptos, but data indicates…
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