The global crypto industry is no longer moving in one direction. It is splitting into layers, with Asia leading in day-to-day usage while the U.S. strengthens its position as the institutional and regulatory hub.

A new Global Digital Asset Adoption Index for Consensus Miami from CoinDesk Research shows Asia ranking first in exchange trading volumes, stablecoin transaction flows, and crypto ownership rates, underscoring how much of the sector’s real activity is concentrated outside North America.

At the same time, the U.S. continues to dominate in exchange-traded products, custody infrastructure, and regulatory clarity, positioning it as the primary venue for compliant capital formation and large-scale institutional participation.

The report argues that this divide does not signal a loss of influence for Washington so much as a structural shift in how crypto markets function.

Liquidity, compliance, and user behavior are increasingly decoupled rather than converging in a single jurisdiction. Asia’s strength lies in embedded financial integration and retail participation, while North America’s advantage comes from product depth, licensing frameworks, and access to traditional financial markets.

Stablecoins sit at the center of this split. In developed markets they remain heavily tied to trading and collateral use, but in emerging economies, they are increasingly used for remittances, cross-border commerce, and inflation hedging. According to the index, this utility-driven demand is helping push transaction growth even when price momentum slows.

Latin America illustrates a third path. In several economies, dollar-pegged stablecoins are used less for speculation and more for remittances, cross-border commerce, and inflation hedging, creating consistent transaction demand even during market downturns.

The result is a multipolar digital asset market in which leadership depends less on geography and more on the layer of the crypto stack under consideration.

Click here to read the report

Temporary Protected Status (TPS) for hundreds of thousands of Haitians was set to expire at midnight tonight, until a federal judge in Washington, D.C. blocked it Monday evening.

Leaders in Florida said no place would have been impacted more than Miami-Dade County where so many Haitians live and work.

Nancy Mateyer Bowen is the Vice Mayor of Coral Springs and the Florida Democratic Party. She’s a proud Haitian-American, but she said she knows Haiti is not a place people can return to right now.

“Haiti is facing some of the most dangerous conditions in its modern history, worsening gang violence, sexual violence, food insecurity and mass displacement,” she said.

Together with other party leaders, she said that Tuesday is a day to celebrate. A federal judge blocked the decision to end TPS for Haitians.

“The impacts, specifically in Miami-Dade County and South Florida will be tremendous,” President of the Florida Democratic Party Nikki Fried said. “Not only the ripping apart of our communities, but our small business owners.”

North Miami is home to the largest Haitian community in the United States.

North Miami Mayor Alix Desulme said the streets of North Miami have been noticeably empty. As a Haitian-American, he said he understands why people are afraid.

“The lawlessness, it’s bad so it’s not a situation for any human being,” he said.

And in Little Haiti at Notre Dame D’haiti, Father Reginal Jean said there’s damage already done.

“There are many people that did quit their jobs,” Father Jean said. “There are many young people from the church who went back to Brazil or Chile, to Haiti. There are many families that decided to go because it’s unbearable for them.”

On Saturday, while visiting Miami, Department of Homeland Security Secretary Kristi Noem addressed TPS saying it was always meant to be temporary, and individuals should look for other programs they qualify for.

There is a candlelight vigil at the Little Haiti Cultural Center at 6 p.m. Tuesday to pray for those living with the uncertainty.