Cryptocurrency use in the United States is increasing in response to the building momentum of regulation, as indicated by Chainalysis.
The United States has made significant strides in the crypto space, moving from fourth to second place in the Chainalysis 2025 Global Crypto Adoption Index. This leap is attributed to the launch of spot Bitcoin ETFs and increased regulatory clarity, particularly the passage of the GENIUS Act, the first federal law regulating stablecoins.
The GENIUS Act has not only enabled increased institutional crypto acquisitions but also led to increased demand for stablecoins. Stablecoin adoption globally has risen, with USDT processing over $1 trillion monthly and USDC ranging from $1.24 trillion to $3.29 trillion in monthly volume.
Asia-Pacific transaction volumes surged 69% year-over-year to $2.36 trillion. However, it is North America that has experienced a 49% growth in crypto adoption, compared to 42% last year, due to renewed institutional interest.
Bitcoin remains the primary gateway into crypto, accounting for over $4.6 trillion in fiat inflows between July 2024 and June 2025. The U.S. dominated global fiat on-ramping with over $4.2 trillion in volume, more than four times the next-highest country.
The top 10 countries by overall crypto adoption are India, the United States, Pakistan, Vietnam, Brazil, Nigeria, Indonesia, Ukraine, the Philippines, and Russia. It is noteworthy that India has maintained the top position in the Global Crypto Adoption Index for the third consecutive year.
Grauer, from Chainalysis, believes that market cycles will have less impact on crypto adoption where it meets basic economic needs. He argues that the developments suggest "structural changes that endure market fluctuations" beyond cyclical speculation.
The U.S. has positioned itself to lead in fiat-backed stablecoin regulation with the passage of the GENIUS Act. This has paved the way for payment processors like Stripe, Mastercard, and Visa to launch products leveraging stablecoins.
Banks such as Citi are considering their own stablecoin launches due to the regulatory clarity. Policy measures in India, such as the Tax Deducted at Source regime and blocking of offshore exchanges, have not materially dampened underlying crypto engagement across the country's massive user base.
Ashish Singhal, co-founder of CoinSwitch, is proud to see India at the top of the Global Crypto Adoption Index. Remittances, savings, and investment needs can drive crypto demand in emerging markets like India, Pakistan, and Vietnam.
The annual index tracks grassroots crypto adoption across 151 countries. The report finds that American institutions leverage regulatory clarity for Bitcoin ETFs. The developments suggest a more stable and regulated future for cryptocurrencies in the U.S. and beyond.
