According to Latvijas Banka's 2023 "Financial Stability Report," the number of people in Latvia purchasing crypto assets has decreased. The central bank attributes this decline to negative sentiment surrounding fraud and insolvency among major market participants, "unwise" investments that have already been made, crypto's links to money laundering, and the increasing connection of crypto-asset companies to supervised financial sector participants. The bank found that only 4% of the population had purchased crypto assets in February 2023, compared to 8% in 2022 overall, based on payment card usage. Retail crypto payments are still more prevalent than crypto asset investment in the country, according to the report.