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This study examines the behavioral determinants of cryptocurrency adoption in Lebanon, utilizing the Theory of Planned Behavior (TPB) during the country's severe financial crisis, marked by hyperinflation, capital controls, and widespread institutional distrust. The study provides an interpretive extension of TPB, using Resilience Theory to explain how crisis conditions reweigh the relative strength of TPB pathways, rather than changing its structural constructs. Using survey data from 207 respondents and structural equation modeling, the findings reveal that subjective norms are positively associated with adoption intention, closely followed by attitude. Perceived behavioral control shows a weaker but significant association. Multi-group analysis indicates that neither age nor gender significantly moderates those associations. The results suggest that, under systemic financial collapse, cryptocurrency adoption is socially embedded and necessity-driven rather than purely innovation-oriented or speculative. By contextualizing TPB within a crisis environment, this study offers a resilience-informed interpretation of digital finance adoption and provides insights for policymakers and fintech developers operating in fragile economic systems.
Aoun et al. (Fri,) studied this question.