Eastern European crypto market will see robust growth

Significance

In recent years, the crypto sector has gone through a rapid expansion across Eastern Europe thanks to the high number of IT specialists and software engineers in the workforce as well as to loose or non-existent regulations.

Impacts

• The number of blockchain projects in the region, including cryptocurrency protocols, is likely to increase.
• Eastern Europe will lag behind in more sophisticated DeFi services.
• In some countries, gaps in regulation will enable tax avoidance.