19% Of New Yorkers Own Cryptocurrency: Coinbase Report
New York is included in the fourth edition of a Coinbase research series that examines crypto innovation at the state level in the United States. The study emphasised a number of achievements made by the state in terms of adoption of cryptocurrencies.
Coinbase’s study found that 19% of New York residents own cryptocurrencies, with one in three stating that crypto makes the financial system fairer and a “worthwhile investment for the future.” The state is also home to 692 blockchain organizations and over 800 founders. As crypto adoption grows, state regulators are improving their capacity to supervise digital currencies. The New York State Department of Financial Services announced enhanced capabilities to detect crypto-related illegal activities, including insider trading, market manipulation, and front-running activities.
(With inputs from Shikha Singh)
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