How Do The Public View Crypto Restrictions?

Last Updated on: 21st November 2023, 11:26 pm

How Do The Public View Crypto Restrictions?

As attitudes continue to change around the biggest cryptocurrency options amidst the ban in China and evolving markets with volatility in prices, public perception for Crypto is more important than ever – a unique survey conducted by Cloudbet with a full report available has shown differences in demographics for respondents of all ages from different European countries, with these particular responses being aimed at views on current restrictions in the crypto space.

Respondents from the UK, Spain, and Germany show little difference here as all three regions had a near 50/50 split when asked if further restrictions should be put in place to reduce energy demands from those mining Bitcoin and other crypto options – but Italy has been a very clear outlier here, only 35% of respondents believe further restrictions should be put in place with 64.66% of respondents not looking to see any change.

This response may be a result of not having a large enough community that currently partake in mining to understand the impact or being more liberal about how these changes should be initiated – but responses were similar across all age ranges with only those between 45-54 years of age being the big advocates for change here.

German responses had the most equal split with 50.38% answering that no restrictions should be put in place, and 49.62% of respondents suggest change may be needed, and this came with quite an even split amongst all respondents too with an interesting split between those aged 55-64, and those aged 65+.

There may be future restrictions coming into place in the future too particular within Europe – the EU have suggested that changes could be aimed at providing more transparency to the industry with more measures to prevent fraud and other issues in a grey area which have been identified. Environmental concerns are also right up there with restrictions that are starting to be mentioned too as the crackdown on Bitcoin in China led large farms to other countries and immediately led to energy concerns too with blackouts and other energy draws that weren’t as expected, alongside the environmental concerns that have been growing over the past few years as the full realization has been made clear for just how big the environmental impacts.

The restrictions around crypto are still in their early days and as such the understanding from a wider public demographic aren’t fully understood either, but section of the report shows that beliefs around which restrictions should be in place or the changes to the existing restrictions are followed by a wider audience, and could be different from market to market in the future.

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