It’s a challenging time for all economic sectors with the war between Ukraine and Russia not yet over and crypto is no exception in this case. The volatile market tends to be more uncertain, unlike the usual scenario. One of the primary reasons why the Bitcoin Era App might affect is because of the wide adoption of crypto; in fact, the stock market alignment in recent times made it more vulnerable to getting affected by such an international conflict.
Below, let’s us take a look at a few recent cryptocurrency development initiatives for 2021:
Executive order for digital currency–
Also, the crypto arena had its share of good news with the president of the United States, Joe Biden, the executive order can be considered the first move in order to bring digital currency regulation. This will eventually help crypto to be a part of the mainstream economy in many ways. The order talks about the importance to bring in policies with regard to crypto-transactions, resulting in bringing more stability to the crypto market.
Crypto for Tax payments-
In a recent development, Colorado has declared that they are good to accept tax payments through crypto for the convenience of the taxpayers. In fact, they would like to go for varieties of crypto-currencies. The governor of Colorado has shown interest in dealing or associating with various organizations dealing with crypto to seamlessly pull this off.
Crypto gets thumbs-up from major banks-
With the president of ‘The American Bankers Associations’ talking positively about the future of Crypto, Banks is on the verge of finalizing a road map to involve and present bitcoin to the customers in a safer and more responsible manner. In fact, many of the banks are in the process of making ‘stable coin’ USDF.
A $400 million theft-
In recent times, there has been news of a stealing operation involving a North-Korean hacker group named as Lazarus. Most of the stolen funds were with regards to Ether; however, altcoins and bitcoins not spared either.
Now, there are other factors that are playing havoc in the crypto market as well. For example, the inflation rate and recent announcement made by the Federal Reserve about rising interest contributed to the value of bitcoin jumping above $41000! Therefore, this is definitely not a very suitable situation to make any decision involving financial investments. In this regard, you can always check out Bitcoin Era to grab some profits in bitcoin trading. Let’s explore a few more recent developments:
Crypto’ legal in Ukraine–
One of the very encouraging news coming in even in this vague situation is that there is a bill that signed by the Ukraine president; Volodymyr Zelenskyy, giving legal acceptance to bitcoin in the nation. Now, this move comes amid the huge number of donations coming in from various sources in the form of crypto. It might sound a little surprising but the country has received as much as $60 million using Cryptocurrency; and this is devoid of military aid or any other forms of relief. This definitely talks volumes about the popularity and usefulness of crypto in the current market for sure!
Warning issued by Dept. of Labor, United States-
Now, on the contrary, we have the recent warning from the Dept. Of Labor, the United States can surely create a concern for the crypto-users. They have literally warned all the employers offering 401 (K) plans that involve dealing with crypto. As per the latest news, they have suggested being extremely careful about dealing with non-fungible assets.
Sanctions on Russia with regards to Crypto-
In another recent development, the government of Japan has requested the exchanges dealing with crypto not to carry on any transaction involving any individual or company of Russia and Belarus. It’s a decision taken with respect to the mutual agreement amongst countries like the United States Canada, Italy, the U.K, France, Germany, and Japan, to not allow Russia to take advantage of the digital assets to evade the repercussions of the sanctions imposed on them.
So, these were some statistics of cryptocurrencies as of 2021. If you are a Bitcoin investor or already planning to be on recently; get familiar with the volatility of the cryptocurrency market and trade accordingly.