For the applicability of Bitcoin, it is good news if the crypto currency, just like regular money, has to do with regulation.
The big difference between crypto such as Bitcoin and money as in euros and dollars is that ordinary money has to do with regulation and crypto often does not. However, that is increasingly changing. And that’s not even a bad development. Because with regulation there is more control from the government, which in turn creates more confidence for companies to make use of it.
Regulate Bitcoin
The question is not if, but when Bitcoin will have to deal with regulation in Europe, for example. The fact is that other countries are slowly taking that step. A resolution has been passed in Cuba stating that the island will regulate cryptocurrencies such as Bitcoin. Cryptocurrency is growing in popularity in the country as it has become harder to use dollars as currency since Trump. With authorization from the Central Bank, cryptocurrency financial transactions can take place between natural persons and bonds.
Bitcoin is on the rise in South America. It was recently announced that El Salvador accepts Bitcoin as an official payment method. There are a lot of countries in the world where the national currency hardly has a decent value. That is where crypto has added value. (through The Economic Times)
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