10% European Citizens holds crypto: Report

A report unveiled that crypto holders in the European Union region are very dense over the holdings by the global population.

The European Union is the biggest region in the world, where a single crypto regulatory framework works. At present crypto is under full legal clarity in the EU for the European citizens to deal with cryptocurrencies but recent initiatives by the MiCA agency created huge hurdles among the crypto community of the EU.

Recently ECB’s Consumer Expectation Survey revealed that 1 out of 10 people from the EU are holders of Crypto assets. The survey was inclined at Belgium, France, Germany, Italy, Spain, and the Netherlands-based populations.

Report data findings revealed that 37% of the crypto HODLers admitted investing around $1,065 into the digital assets market, 29% had distributed between $1,065 and $5,350, while 13% invested a maximum of $10,700.

According to the report, the population of The Netherlands seems highly eager to this asset class since 14% of the local households have exposure. While France is standing at the bottom rank, where only 6% of the population is involved in crypto investment. 

Interestingly wealthy portion of the EU population showed more inclination toward crypto over low-income makers. Which is showing the understanding of the financial dominant population about education on crypto & blockchain. 

According to an estimation from ECB, young generations are more aware of crypto & blockchain education and these guys are showing huge interest in crypto because of only financial knowledge.

Report stated:

“On average, young adult males and highly educated respondents were more likely to invest in crypto-assets in the countries surveyed. About financial literacy, respondents who scored either at the top level or the bottom level in terms of financial literacy scores were highly likely to hold crypto-assets.”

MiCA against Proof-of-work

MiCA is a special agency in the EU, which is working to bring high strict regulation on Cryptocurrencies to create a better balance between the use cases of crypto & keeping the negative impacts away. 

MiCA was considering banning all proof-of-work Consensus-based cryptocurrencies but later controversy stopped the efforts of MiCA. However here it will be too early to comment on this matter but still, the crypto industry is expecting huge from MiCA.

Read also: CFTC commissioner describes crypto assets as lottery token