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There is a clear shift toward digital currencies in the global economy. They are a great alternative to fiat currencies since they are transparent, decentralized, and not controlled by any government.
Cryptocurrencies are becoming increasingly popular as a result of their advantages, resulting in a boom in the crypto industry. While some countries consider cryptocurrencies to be a speculative asset, others recognize their appeal and are working to regulate them.
Cryptocurrencies have had another wild year
Bitcoin, the world’s most valuable digital commodity, has risen roughly 65 percent since January, with ten to twenty percent variations in between.
When payment processors like PayPal started allowing consumers to trade cryptocurrencies, it attracted a rush of new, unaffiliated investors. To assist develop the asset class, more billionaires and institutional investors poured money into it.
The industry has now grown to include much more than bitcoin. Executives will be thinking about NFTs, blockchain-based games, and “Web3” in the coming year. Regulation is the biggest unknown.
Several crypto-related laws have recently been announced all across the world.
Cryptocurrency regulation
Expect more about the bitcoin law in the future. The regulation of stablecoins has increased the interest of US regulators.
Legislators in Washington, D.C., and throughout the world are working to make cryptocurrencies safer for investors and less appealing to hackers by enacting regulations and guidelines.
On August 31, 2021, Dreamr App’s native token DMR, which is based in the Bahamas, will be released. However, it was rescheduled until September 12, 2021. In addition, the increased token releases added to the problem. Because of these delays, the DMR token lost 93 percent of its value within 90 days of its introduction.
On the intended launch date, one DMR token was worth around 0.13 USDT. It behaved brilliantly during the hold-up and was immediately dispatched after the launch. It has been worth around 0.0015 USDT since then.
The Dreamr organization claims that their token release was tampered with, thus they launched a lawsuit to reclaim their cash from the allegedly responsible celebrities. “Clear regulation would be greatly appreciated.”
Despite all regulations -Cryptocurrencies is Growing
In 2021, mainstream companies from a number of industries exhibited an interest in cryptocurrencies and blockchain, and in some cases, invested in it. AMC, for example, just stated that it will be able to accept Bitcoin payments before the end of the year.
PayPal and Square are also betting on Bitcoin, allowing clients to buy it using their services.
Despite having billions of dollars in crypto assets, Tesla continues to be shy about accepting Bitcoin payments. This amount of buy-in, according to experts, will continue to climb.
ALSO READ: Cardano Surpasses Kusama in Total Value Locked on DeFi Applications
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
