Cryptocurrency Outside the United States
Paul O’Brien
April 20, 2023
Inflation Rates Around the World
-5 0 5 10 15 20 25 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
United State 90th Percentile Global Median
Resondents Expecting Crypto to Become a Reliable Source of Payments
0% 10% 20% 30% 40% 50% 60% 70% 80% US Argentina Chile Colombia Mexico
Crypto Regulatory Frameworks
In Place Process Initiated Prohibited
Bahamas United States
Bahrain United Kingdom
Cayman Islands
Estonia
France
Malaysia
Switzerland South Africa
UAE
Wyoming
Source: PWC Global Crypto Regulation Report 2023
China
Qatar
Australia
Saudi Arabia
Canada
Denmark Not
Hungary India
Italy Kuwait
Started Germany
Japan
New
Taiwan
Panama Turkey
Zealand
Singapore
EM Sovereign Bond Defaults
Annual default rate (%) - Left Moody's rated sovereign bond defaults
0 1 2 3 4 5 6 7 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 1983 1984 1985 1986 1987 1988 1989* 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Central Bank Concerns: Cross-Border CBDCs
Increased FX Volatility
Not at All Somewhat Significant
Tax Avoidance
0 2 4 6 8 10 12 14 16 18 20
Risk of Digital Dollarization