Bolivia, Morocco, Nepal, Pakistan, and Vietnam, for example, all currently have wide-reaching legislation banning crypto activities, while others like Japan, Germany, and the United States have looser restrictions. Others still like China have gone a different route, opting instead to impose strict regulations on cryptocurrency, but embrace blockchain for other nonfinancial use cases.

In a February 2019 report about the mobile economy, GSMA Intelligence estimated there would be 710 million new mobile subscribers worldwide by 2025, with six countries—India, China, Pakistan, Nigeria, Indonesia and Brazil—accounting for nearly half of all new subscribers. The Marketer’s Challenge.