As countries continue to face issues such as inflation, unstable currencies, and financial control, the demand for crypto assets is on the rise. Pakistan has recently announced that they will not be legalizing cryptocurrencies to avoid penalties from the Financial Action Task Force (FATF), despite the organization urging regulation instead of a complete ban.

However, crypto use in Pakistan remains active as people convert their salaries into stablecoins to prevent currency erosion. Other countries such as Nigeria, Turkey, and Japan are also turning to crypto as a hedge against local currency volatility and debasement.

The recent increase in Bitcoin purchases in Japan could indicate that investors are seeking protection against potential inflation and currency instability. This trend is not unique to Japan, as citizens in other countries such as Ukraine, Argentina, and Lebanon have also turned to crypto for protection against local currency volatility.

Despite regulatory hostility in the US, the decentralized nature of crypto assets is easier for citizens in developing economies to understand and appreciate. With the increasing likelihood of currency turmoil and political instability in emerging countries, the "insurance" and "hedge" qualities of crypto assets become even more compelling.