Friday, September 10, 2021

Three countries to join the crypto community

Lately we have been following the events in El Salvador. Now it has officially legalized bitcoin. Probably this country showed the most straightforward way in dealing with bitcoin and cryptocurrency. However, this is not the only one that has made some moves recently. Panama introduced a bill "Crypto Law: Making Panama Compatible with the digital economy, blockchain, crypto assets, and the internet". And Ukraine adopted a draft law which legalizes and regulates cryptocurrencies and other digital assets. It is now legal to exchange and store crypto, but payments are not allowed.
The representatives of these countries are speaking about the fact that adopting crypto at least on some levels attracts business and money to the country. Moreover, there is another opinion that suggests that having crypto makes the country less dependent on the U.S. dollar.
What else can motivate countries to join? Will this motivation conquer the fear of losing control over the financial sector?


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