The Latvian government noted that investment interest in digital assets has seriously decreased in 2023. The key reasons for the development of such a trend were the activity of scammers, increased control by regulators, as well as the development of a global bearish trend in the market.
The Central Bank of Latvia noted that last year 8% of the population of the state purchased cryptocurrencies. In the current year, this figure has halved to 4%. For reference, a little over 1.8 million people live in the state. The regulator’s report stated: “The number of users buying digital currencies and making cryptocurrency payments has seriously decreased. This can be provoked by the negative among retail investors and the increased activity of cybercriminals.”
At the moment, Latvia is on the 92nd line in the ranking of 149 countries in terms of the dynamics of the adoption of the implementation of cryptocurrency.
Its neighbor Lithuania occupies the 102nd position in this list, as evidenced by data from the analytical company Chainalysis.