I hope there's no effect in using crypto in our country (Philippines) instead, they were directly seized the groups that implement this Ponzi scheme business which is obviously scam. Just like
Forsage investment scheme which is now very well known here in the Philippines. However, you can also read this
SEC pdf memorandum regarding those Ponzi scheme operators.
Some of my friends messaged my about this FORSAGE, so I got curious what it is and then found out that it is an investment company. Upon searching about it, there are already circulating articles warning people to stay away from this company, most of people might want to give it a shot coz it only needs 0.05 ETH to become one of their participants. Imagine with that minimum, they can get 0.05x500 000 ETH from their investors and that's only a minimum. seeing those x3, x4 , x5 multiplier from the investment made me sure about it is a scam.
As of now, I can't give a clear insight into what will exactly happen to cryptocurrency adoption. People should learn how to use crypto in a good purpose not for these Ponzi scheme investment that has sweet promises of high returns of your investment using crypto.
Now this is an answer why people keep doubting the cryptocurrency, aside from they are unaware of it, they are blinded with easy money schemes.