Bridging Blockchain and Digital Asset Gaps: A Comparative Policy Analysis of Regulatory Practices in Emerging Markets

Regulatory frameworks play a large part in the effectiveness of blockchain adoption. This study focused on determining the regulatory policies that promote the growth of blockchain adoption and analysing the impact of these regulatory approaches on blockchain adoption in finance sectors in emerging markets. The study used a comparative policy analysis to compare policies and regulations from chosen emerging markets. The countries included in the analysis are China, India, Kenya, Nigeria, Albania and Turkey. The findings suggest a correlation between supportive policy environments, such as those in Turkey, Albania and India, and more advanced applications of blockchain technology; however, this relationship is likely influenced by additional factors, including economic capacity, institutional readiness and technological infrastructure. In contrast, countries with restrictive policies, such as Kenya and Nigeria, ranked lower in blockchain adoption in the finance sector. Accordingly, a unified approach to blockchain regulations and cooperation between participating stakeholders is recommended. This study was limited in that only a few countries were chosen for analysis, which could have limited the scope of the comparative analysis.