For many people, cryptocurrencies are the gateway to many opportunities but for some, it is risky and not worth it in the same manner many countries are ready to adopt this new digital currency but some are still not ready. On the other hand, digital assets surge to the new hikes which catch everyone’s attention.
Many countries started taking interest and regulating new rules which help to adopt cryptocurrencies like bitcoin and other digital assets.
THE UNITED ARAB
United Arabs are one of those countries that adopt crypto very fast as compared to other countries. Dubai has been taking crypto to a new horizon by reinforcing a new set of protocols and regulations. Their main plan is to support crypto and officially allow trading in free economic zones.
Many crypto companies find Dubai is an attractive place for expanding the crypto world.
EL SALVADOR
El Salvador is the first country who adopt cryptocurrency. It is located in central America and has set up a new benchmark regarding the same. $47000 was the ATP (Average trading price) while it was adopted by the nation.
After introducing the bitcoin law by president Bukele there was a timed lap to normalize things among the people.
CANADA
In 2021 list has shown that Canada is one of the most eco-friendly countries for cryptocurrency and it opened the doors for the crypto world by launching a Canadian investment firm in February. Retail investors are not the only ones benefiting from Canada’s bitcoin ETF but it also shares the cake with people having their government-registered savings accounts.
Besides dominating the crypto ETF Canada has also been putting new steps to introduce more exposure to its new regulations in recent years.
Speaking of benchmarks Canada has been listed as the 4th largest country for bitcoin mining. As it contributes to a whooping 9.6% of the global hash rate, according to the reports of the Cambridge Bitcoin Electricity Consumption Index.
SINGAPORE
Singapore holds its throne as it continues to be the world’s biggest hub for cryptocurrency exchanges and blockchain enterprises in the year 2021 as the regulatory bodies of the country have worked at every bit of it to support the industry.
Singapore is also famous in the world for the increase in crypto adoption as 43% of citizens own crypto which is quite a big amount of people.
Even if a large number of citizens welcomed crypto but still many crypto businesses have seemed to got denied to get a license to operate in Singapore.
GIBRALTAR
Gibraltar is one of those countries which catches the eye of many crypto markets and is also one of the smallest countries in the world. Gibraltar greets Bullish which is a new cryptocurrency by the EOS.IO and it also provides licensed distributed ledger technology from GFSC (Gibraltar financial services commission).
Gibraltar’s government has been reinforcing its terms with blockchain and crypto market players and also in 2021, Gibraltar welcomed big crypto exchanges.
CONCLUSION
Throughout this evolution of our economy from paper to paperless, analog to digital now cryptocurrency seems to light up the path for further development. Cryptocurrency is just like any other currency that allows you to exchange but in a digital format.
It is used for the exchange of digital information. For the past couple of years, digital currencies have been the apple of the eye of investors and the bottom line is we cannot ignore the positive aspects of this new world as it opens a new realm for many new businesses and business owners.
Many countries move forward with this new digital world and many others started taking an interest. Cryptocurrency opens new opportunities for everyone.
