The Bank for International Settlements (BIS) published a paper on the financial stability risks of crypto-assets in emerging markets, based on input from central banks in the Americas. Many of the crypto risks have been explored before, but there are additional factors in emerging markets.
These include additional threats of currency substitution using crypto, and the fact that emerging markets tend to have more triggers, such as domestic currency devaluation or other events which might drive crypto adoption.
Devaluation is often triggered by inflation and crypto-assets are perceived as having less inflation risks. Plus political instability might mean fiat currency risks are associated with the person currently in power in the country.
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