China tightens whilst India and the US warm to crypto.

May 19, 2021 | Community Guides

Nebraska seems to be taking a leaf out of Wyoming’s book and has now entered the final stages of a legislative debate that could see the state become the second to move towards mainstream adoption.

If the bill passes it will seek to implement a framework to allow formalised crypto-banks to operate in the state.

The news comes a few hours after China, seek to go in the opposite direction and prevent payment providers and institutional banks from offer cryptocurrencies as a service. Nothing has really changed here in my opinion, this has always been the case.

Fear and uncertainty are all the rage at the minute in the crypto world, although a lot of it is very emotionally led with the bull market in full swing.

The more people make and or lose, the more emotionally driven the majority of the market becomes.

Emptional decisions mixed with increasing media coverage of uncertainty can lead to downturns in the market which have been apparent in all previous crypto bull markets.

This isn’t anything new. Those around in the crypto space for longer than a few weeks will be familiar with the intense rises and equally intense drawdowns.

When compared to stocks or lower-yielding investments may see this as volatile. Taking into account that the total crypto market is less than the valuation of Apple, volatility, manipulation and uncertainty is bound to be at large.

Indian, which has previously been in favour of a blanket ban on all cryptocurrencies seem to also be following the west.

Rumours of an Indian committee being instated to explore the benefits of blockchain and cryptocurrencies have emerged over the past few hours. Making another u-turn in Indians decisions surrounding this space.

Indian has just benefitted from a $1 billion donation from Ethereum co-founder Vitalik Buterin whilst the largest projects from the country, Polygon (Matic) has continued to hit all-time highs for the past few weeks.

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in my opinion, those who seek to adopt blockchain and cryptocurrencies will perform greater than those who don’t over time.

Trialling and eventually adopting new emerging technology as opposed to outright banning something before you have tried it is a little silly. Who knows, big powers are at play in a relatively naive and young market. Only time will tell.

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