Accepting Crypto
Accepting Crypto
Now governments are beginning to ask for cryptocurrencies to be regulated in a coordinated way between countries. This is possibly a grudging acceptance by them that cryptocurrency is here to stay and that they need to regulate and control it.
It’s a case of – if you can’t beat them, join them. First, banning things that are not clearly understood. Then, when people continue to use it over a period of time, they then try to regulate and control it.
This has been a long road for crypto enthusiasts to gain acceptance at scale.
Regulations and laws concerning cryptocurrencies still vary from country to country. Whether countries will allow cryptocurrencies to be used as legal tender to buy goods and services is still unclear.
Central bank digital currencies are also in the works and the experimentation has begun. Countries may prefer their own digital currencies to be used as legal tender.
With the sudden surge of NFTs on social media, more and more people are taking an interest in crypto and blockchain technology.
Banks and other corporations are getting in on the act, using blockchain technology for things such as fintech and supply chain management.
The crypto industry is still very much in a state of flux. One thing that needs to be improved is security surrounding cryptocurrencies. You hear stories in the news of people losing their crypto holdings. If this aspect is improved it will help the industry grow even further.
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