We collected 19,381 responses during the course of the survey. The main takeaways from the survey are listed below.
Quick Take Away:
- Majority of respondents (43%) thought their countries’ regulations were neutral to crypto. More respondents believed their countries’ regulations were crypto-friendly (29%) instead of unfriendly (11%);
- 45% of respondents believed that more regulation is beneficial to crypto adoption, whereas 23% of respondents were neutral and 21% of respondents believed it is harmful;
- Our respondents tended to view regulation favorably. Higher score was observed for “more regulation may help to change the general public’s stigma” (3.68) and “I feel safer to use regulatory compliant crypto service provider” (3.89) than other questions;
- Moreover, respondents tended to believe in the crypto’s spirit “be your own bank”. The statement “People should be responsible for keeping their own crypto safe, instead of relying on consumer protection regulation” got a score of 3.71;
- Only 17% of respondents had heard of Travel Rule while 83% had not. We expect the number to be higher for those who worked in crypto industry. Still, only less than half (45%) were aware of the Travel Rule;
- More than half (55%) of respondents had not filled crypto for tax while only one fourth (25%) of respondents reported they had done so.
Read the full PDF version of the Crypto Regulation Survey 2020 here.