United States Embraces Cryptocurrency

Biden Inks Executive Order Ensuring Development Of Digital Assets

As strange as it may sound, the President of the United States is generating a stir across the globe once again, this time with a focus on crypto enthusiasts rather than on sanctions on Russia; part of it is good, but some of it isn’t…

He’s been enforcing the penalties more recently, and we all assumed he’d come for our cryptocurrency. On the other side, the cryptocurrency was abuzz with grave warnings and was anticipating the revelation of some harsh plans.

Based on a report released by the White House last week on new crypto statistics. These figures imply that crypto legislation will not be implemented in a way that harms the industry. That is because 16% of all Americans have acquired, traded, or invested in cryptocurrencies. What’s more fascinating is that this figure jumps to 43% when discussing men aged 18 to 29, which to me is a clear indication that crypto will eventually control the economy, as the younger generation of working class men is betting on it. Prior to the announcement of the statistics, the market was only beginning to unload the crypto, and warnings have been issued on every social media site.

“Get ready to exit crypto exchanges,” is a phrase that has been repeated numerous times as the US Congress prepares to pass anti-cryptocurrency legislation.

Cryptocurrency is in flux at the moment, and I believe that some form of regulatory framework is necessary. Despite the fact that government restrictions are always beneficial in the long run, some level of government control is necessary to prevent cryptocurrencies from becoming a risk.

That has been coming in waves for quite some time. Numerous countries, including the United States, have long had regulations in place to either limit or prohibit the influence of Bitcoin on their economies. This has changed in recent weeks. Perhaps the Feds feared bitcoin will eventually outperform the US dollar in terms of value. I understand their perspective, and the Feds may once again but yet justified in their fears

Bitcoin is extremely popular in the online world, and Millenials are capable of adjusting to such new technologies. Bitcoin itself…

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