Is The New Wave Of Cryptocurrency On The Horizon?
Cryptocurrency trade is bringing huge profits to the market. There are many custodial services that are offering storage facilities for Bitcoins. This change in attitude towards Bitcoin is due to the changing perception of digital currencies in general. Over the years, people have realized that digital currencies are valid and legitimate. In recent years digital currencies have been used not just by technology geeks and niche groups but also by big businesses around the world.
Changes in governmental acceptance.
Just a few years ago governments and centralized banks were suspicious of digital currencies, but slowly even governments are accepting that digital currency has to be legalized and brought under state rules. Countries like the United States of America, China, Russia, and Japan have accepted Bitcoin into their fold. Now they are looking for ways to form their government-owned cyber currencies. Countries like India are also at a policy stage where deliberations over the inclusion of Bitcoin Future within its technological and financial format are taking place. Any country that aims to achieve digitalization has to accept cryptocurrency and perhaps it is this realization that is making countries and governments more open and acceptable towards Bitcoin and its alternatives.
What to expect in future
Judging by the international trends, the new wave of cryptocurrency looks like growing legalization of digital currencies in the world. Recently Thailand formed the Securities Exchange Commission (SEC) which is tasked with approving and regulating the Bitcoin and Altcoin trade in Thailand. Countries like Malta are offering a conducive environment that fosters the development of DLT projects and blockchain technology. India is also planning to introduce its own state-run digital currency that could be used in place of private cryptocurrencies. In the near future, we can see Bitcoin and Altcoins gaining more users.