Proskalovich, Roman, Jack, Christopher and Zarifis, Alex , (2023) Cryptoasset ecosystem in Latin America and the Caribbean Cambridge Centre for Alternative Finance 102pp.
Abstract
The cryptoasset sector has grown substantially across Latin America and the Caribbean (LAC) in recent years. Throughout 2022, the Cambridge Centre for Alternative Finance (CCAF) at Cambridge Judge Business School, in collaboration with the Inter-American Development Bank (IDB), surveyed, researched and interviewed key stakeholders of LAC’s cryptoasset ecosystem. The aim was to gain insights into its development, market trends, challenges and opportunities, as well as regulatory and policy issues.
For this study, the CCAF gathered 52 responses from private sector stakeholders and 31 from public institutions in LAC. The private sector survey focused on identifying cryptoasset use cases, opportunities and risks and determining the level of cooperation between various stakeholders. The public sector survey aimed to understand the attitudes, perceptions, organisational roles, current activities and plans of LAC regulators and supervisors. Survey data was supplemented with data from the Cambridge Fintech
Ecosystem Atlas (Atlas) and the Cambridge Bitcoin Electricity Consumption Index (CBECI) and qualitative interviews with some of LAC’s largest private cryptoasset companies. Empirical data was collected between June and August 2022.
Below, we describe the key findings of this study. It is important to note that they provide a snapshot in time of the ecosystem and stakeholder perceptions and should be considered with caution, given important developments in the global cryptoasset industry in the second half of 2022 and in 2023.
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