The comments from Nigel Green, founder and CEO of deVere Group, which launched its pioneering cryptocurrency trading app deVere Crypto last year, come after two days of congressional hearings this week to discuss Facebook’s planned digital currency, Libra.
It also follows Bitcoin’s impressive 9% jump on Thursday.
Mr Green affirms: “Many of the lawmakers’ stance on cryptocurrencies – which are almost universally regarded as the future of money – is out-dated and blinkered.
“Some of their comments in the congressional hearings suggest that they think cryptocurrencies are a passing fad. That is delusional.
“The demand for digital, global, borderless currencies is only going to increase. This is inevitable as the digitalisation of our economies and our daily lives grows further and picks up pace further still.”
He continues: “And because demand is set to soar over the next few years as retail and institutional investors pile into crypto, lawmakers now need to embrace them and bring them fully into the mainstream financial system with proper and robust regulation.
“It is bordering on negligent not to do so for three key reasons.
“First, it would provide further protection for the growing number of people using and investing in cryptocurrencies.
“Second, unless the US leads the way in the digital currency revolution, other countries - with perhaps counter values to those of America - will control it and it would be hard to ever take back that control.
“And third, there are enormous potential opportunities for higher economic growth by embracing cryptocurrencies. Why are lawmakers not seizing these with both hands?”
In a similar vein, the deVere CEO slammed President Trump last week when he criticised Bitcoin, the world’s largest cryptocurrency by market capitalisation. At the time he said: “Standing on the sidelines, or worse looking backwards, on the issue of cryptocurrencies - which are redefining and reshaping the financial system - is a baffling approach for the leader of the world’s largest economy to take.”
Mr Green concludes: “Digital currencies are the biggest innovation in payment systems in many decades. Facebook’s jump into the sector is a clear indication of the direction of travel in this regard and lawmakers must not put their heads in the sand and/or attack – that is futile and counterproductive.
“Instead they must work alongside stakeholders to make the market stronger still as investors continue to dive into the likes of Bitcoin, Ethereum, Ripple’s XRP and Litecoin.”
Nigel Green, the Founder and CEO of deVere Group, is speaking out after Donald Trump took to Twitter to say: “I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.
“If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International,” he added.
The President’s tweets follow last month’s announcement by Facebook that it is to launch its own new digital currency to be called Libra. It is designed to be a low-volatility currency that will let its users buy things or send money to people with very low fees.
It will be backed by reserves managed by an independent organisation, called the Libra Association, made up of several leading tech firms and non-profits that give the token real-world value.
Nigel Green affirms: “President Trump is wrong and is placing himself on the wrong side of history on Bitcoin and other cryptocurrencies.
“The blistering pace of the digitalisation of economies and our lives underscores that there will be a growing demand for digital, global, borderless money.
“Indeed, it is now almost universally regarded as the future of money.
“This is why most major financial institutions globally already have or are preparing to establish crypto desks. It is why more and more retail and institutional investors are piling into the market. And it is why tech giants, like Facebook, are getting involved. And you can bet that where Facebook follows, other tech companies will do the same.
“When everything from voting to music to books is already digital, dismissing digital currencies in a digital era is, frankly, bizarre and looks depressingly archaic.
“Does the President seriously think that traditional, fiat currencies are the way forward?”
Mr Green continues: “However, I agree with Mr Trump that Facebook’s new Libra project should be scrutinised.
“But, being the social media monolith that it is, it is surely expecting this level of scrutiny. I would suggest that it is prepared for it, has the resources for it, and will welcome it, as it will make its cryptocurrency stronger.”
He goes on to add: “The wider point here is regulation. Cryptocurrencies are already becoming mainstream. As such they should adhere to the same standards as the rest of the financial system.
“Regulation is necessary as it will provide further protection for the growing number of people using cryptocurrencies, the less likely it will be that criminals will use these digital payment methods, the less potential risk there will be for the disruption of global financial stability, and the more potential opportunities there will be for higher economic growth and activity in those countries which introduce it.
“And it is surely on its way, judging by the activities of regulators around the world.”
The deVere Group CEO concludes: “Standing on the sidelines, or worse looking backwards, on the issue of cryptocurrencies - which are redefining and reshaping the financial system - is a baffling approach for the leader of the world’s largest economy to take.”
(Source: deVere Group)
After spending a year and a half in the bear market, the price of Bitcoin has recently increased and the bull run is in full force. Although there are certain factors that may have a negative impact on the value of Bitcoin, it is likely that in the long term it will transform into a safe asset due to its rarity. However, the uncertainties of its future can make the price fluctuate daily.
Following a report that Gate.io’s research team launched looking at the fluctuation of the currency, Marie Tatibouet, CMO at Gate.io, teams up with Finance Monthly to take a look at a number of factors that can influence the price of Bitcoin.
One factor that can influence the price of Bitcoin is user adoption of the asset. Popularity of the currency can drive prices up, whereas if the demand for the currency is low, it can decrease the value. Individuals, governments, institutional investors and multinational corporations are adopting Bitcoin, therefore it is evident that the price will be pushed to a new high.
Findings from the report underlined that from 2012 and 2018, the number of Bitcoin addresses with 100 to 1000 BTC gradually increased, accounting for a considerable portion of the Bitcoin in circulation. Additionally, during 2012 and 2015, the price of Bitcoin fluctuated, with it becoming more affordable whist the mining difficulty decreased, and then increasing again. Between 2016 and 2017, Bitcoin became more expensive and the difficulty of mining increased, therefore the growth of Bitcoin slowed down considerably.
In addition, Bitcoin reward halving is a contributor to the fluctuating price of the cryptocurrency. Bitcoin has a fixed amount of 21 million, unlike fiat money which can be inflated by the centralised authority. It is intended that when 210,000 blocks are generated, the reward from Bitcoin mining will half. Since this was introduced, it has happened twice where the reward has halved - resulting in a fall from 50 BTC to 12.5 BTC. On average this happens every four years.
As a result of Bitcoin reward halving, there is a significant impact on the mining industry. Following the first and second halving, the hash rate decreased, but recovered quickly. Throughout 2018, when the price of Bitcoin was falling, a number of miners decided to leave the practice as well as a few mining pools closing down. This highlights the effect the changing price of Bitcoin has on the industry. However, with this being said, there seems to be a wider acceptance of Bitcoin today. The hash rate began to stabilise at the beginning of 2019, suggesting an optimistic market.
Cryptocurrency regulations is another factor that can affect the price of Bitcoin. As the cryptocurrency industry has experienced rapid acceleration, regulatory bodies have started to pay more attention to the industry. Governements are now taking note of money laundering, terrorism financing and other criminal activities that can be linked with cryptocurrencies. An example of this is in Canada where amendments to the ‘Proceeds of Crime and Terrorist Financing Act’ now require businesses dealing with virtual currencies to register with the Federal Financial Intelligence Unit.
The development of Bitcoin in most countries is unrestricted, with the report highlighting that among 126 countries, 67% of them consider Bitcoin as legal, whilst 19% of them remain neutral. On the other hand, only 8% the 126 countries deem Bitcoin illegal. The response from regulatory bodies can cause the value of Bitcoin to go up or down.
Although the future of individual cryptocurrencies are uncertain, the industry is growing as a whole. Predicting the price of individual cryptocurrencies is nearly impossible, but Bitcoin’s recent Strength Indicator shows clearly that Bitcoin is here to stay, at least for the next few years. With additional certainty, we should expect a price increase and stabilization. Bitcoin has created vast opportunities and possibilities and its full potential is yet to be reached. Bitcoin has come so far in the past 10 years, so it will be interesting to see where it will be in the next 10 years and the true value it will offer.
The cryptocurrency jumped nearly 200% since the beginning of April.
Michael Novogratz, CEO of Galaxy Digital, joins "Squawk Box" to discuss what might be behind the surge.
Below Finance Monthly hears commentary from interactive investor cryptocurrency analyst Gary McFarlane on bitcoin passing $11,000 over the weekend.
The recommendations, as expected, from the global G7-instituted Financial Action Task Force, which will see crypto exchanges and others required to provide full know-your-customer (KYC) details on clients and all parties to crypto transactions, has done little to dampen bitcoin buying.
Other top altcoins – all other coins barring bitcoin – are struggling today.
Two notable exceptions are decentralised application platforms Ethereum (its Ether token is the second-most valuable crypto), and one of its many rivals, Tron, whose founder and chief executive Justin Sun recently won the auction for lunch with legendary investor and crypto sceptic Warren Buffett at a cost of $4.57 million.
Geopolitical tensions, notably in the Middle East; the realisation that historically unprecedented loose monetary policy by central banks is not being reversed any time soon, the China-US trade war encouraging bitcoin’s use as a conduit to effect capital flight by some Chinese investors; record high trading in distressed economies such as Turkey and to a greater extent Venezuela and some other countries in Latin American; and talk of an outright ban on crypto by the authorities in India. These are all helping to propel the bitcoin price higher, providing, as they do, a range of examples of its use case as a store of value, no matter how peculiar that may sound for such a crash-prone asset.
Talk is now turning to the possibility of “the fourth parabolic”, which postulates a rise in the bitcoin price beyond the previous all-time high at $20,000 in December 2017.
With end of year targets of $40,000 from Wall Street analyst Thomas Lee of Fundstrat Global Advisors and commodity trader Peter Brandt saying $100,000 for next year is a possibility, which would align to the run up to block rewards halving from 12.5 to 6.25 in May 2020 for bitcoin miners, it is starting to feel like 2017 all over again.
That might sound fanciful in the extreme but on past form it is a possibility – and so is a crash from wherever any potential new all-time high might form.
When bitcoin first surpassed $10,000 on 29 November 2017 it only took 17 days to reach its all-time high near $20,000, but past performance is of course not a reliable guide to future performance, especially where crypto is concerned.
Judging by Google Trends, searches for ‘bitcoin’ haven’t surged yet in the way they did last time round: December 2017 scores is 100 and we are currently registering 16.
It suggests current buyers are those who have previously been in the market and were waiting on the sidelines for a new entry point. That could mean there is plenty of near-term oxygen to drive this market higher, but as always with crypto, it will be a high-risk rollercoaster ride. The fear-of-missing-out (FOMO) impulse for now is more in evidence among institutional buyers.
Nigel Green, the founder and chief executive of deVere Group, is speaking after the social media giant this week set out details of Libra, its own digital currency, to be launched next year.
Mr Green affirms: “Facebook’s launch into cryptocurrencies tells us two things.
“First, the role of traditional banks will decline at a quicker rate than many had previously predicted. Facebook’s Libra cryptocurrency will be able to transact across traditional payment rails. They have partnered with PayPal, Mastercard, Visa and Stripe, amongst others to fuel merchant acceptance of the digital currency.
“If you have cryptocurrency on these payment methods, the purpose of and use for traditional banks will surely shrink.
“Cryptocurrencies and fintech [financial technology] solutions are already taking business away from banks. They are filling a gap left by the traditional way of doing things as the world speeds up and becomes increasingly globalised and digitalised.
“The jump into cryptocurrencies – which are the future of money – by Facebook which already has 2.7 billion users can really only be seen as another nail in the coffin for banks.”
He continues: “Second, tech giants entering the cryptocurrency sector indicates that digital money, as a concept, is fully mainstream and inevitably the way the world is going. This is something we have been arguing for a long time now – despite protestations from financial traditionalists.
“Where Facebook leads, others will inevitably follow, and this will quicken the pace of mass adoption of cryptocurrencies.”
The deVere CEO concludes: “This is a major development in the crypto-verse and it is surely just the beginning. This is set to revolutionise how people access, manage and use money across the world and it will positively disturb the wider banking sector. Banking as we have known it until now is coming to an end.”
(Source: deVere Group)
The comments come ahead of the recent TV debate between Boris Johnson and his rivals to be the next leader of the Conservative party and British Prime Minister.
Mr Johnson has been publicly open about a no-deal Brexit, which has weighed heavily on the pound.
The deVere CEO’s observation also comes at a time as Bitcoin, the world’s largest cryptocurrency, hit a 13-month price high on Sunday above $9,300, with predictions of the next crypto bull run making headlines. Bitcoin prices have soared more than 200 per cent over the last several months.
Mr Green comments: “It looks almost certain that Boris Johnson will be Britain’s next Prime Minister. His vow to leave the EU in October — deal or no-deal — has prompted a decline in the value of the pound.
“Sterling has lost almost 5% of its value against the US dollar since the start of May. Similarly, it continues six straight weeks of falls against the euro.
“As Mr Johnson’s campaign moves up a gear – as it moves into the next phase to win over the party’s grassroots – we can expect him to also up his hard Brexit rhetoric and this will likely drive sterling even lower.”
He continues: “We are already seeing that UK and international investors in UK assets are responding to the Brexit-fuelled uncertainties by considering removing their wealth from the UK.
“One such way that many are looking to diversify their portfolios and hedge against legitimate risks posed by Brexit is by investing in crypto assets, such as Bitcoin.
“Crypto assets are often used around the world as alternatives to mitigate geopolitical threats to investment portfolios.”
He goes on to add: “The no-deal Brexit issue might be the catalyst for new investors in this way, but they are likely, too, to be aware that many established indicators and analysts are pointing towards a currently new crypto bull run.
“As such, they might think this is now the time to jump into cryptocurrencies - which are almost universally regarded as the future of money.”
In May this year, deVere carried out a global survey that found that more than two-thirds of HNWs - classified in this context as having more than £1m (or equivalent) in investable assets - will be invested in cryptocurrencies in the next three years.
The poll found that 68% of participants are now already invested in or will make investments in cryptocurrencies before the end of 2022.
Of the survey’s findings, Nigel Green commented at the time: “Crypto is to money what Amazon was to retail. Those surveyed clearly will not want to be the last one on the boat.”
The deVere CEO concludes: “As Boris and Brexit continue to dominate the agenda, Bitcoin and the wider cryptocurrency sector could experience a boost as investors seek to protect – and build – their wealth by hedging against the geopolitical risks they pose.”
(Source: deVere Group)
The card uses a customer’s balance in Bitcoin or any other virtual currency and converts it into pounds or euro when paying in physical stores or online. It is the first crypto-based debit card to link directly with a cryptocurrency exchange in the UK and EU, as previously available crypto cards “required users to pre-load a specified amount of crypto onto their card, adding a point of friction to the process."
Why is the launch of the card important and how will it affect the crypto industry?
Making cryptocurrency usage easier
Along with Coinbase’s Visa card, the crypto exchange is also launching an app which will allow users to choose which cryptocurrency wallets should be connected to their purchases. The app will also allow customers to receive instant receipts, transaction summaries and access to spending categories. The process of converting users’ cryptocurrency into fiat is quite simple – “crypto, equivalent to the amount spent, is liquidated immediately into fiat ensuring the correct value is captured at the time of the transaction. Funds are debited immediately from the customer’s account”, explained Zeeshan Feroz, Coinbase UK CEO.
Rolling out Coinbase’s Visa card means opening up cryptocurrency payments to a large swath of users who are eagerly anticipating mainstream acceptance of cryptocurrency payments for everyday purchases.
The card will be first available in the UK only, with the view to soon be introduced across all European markets in which Coinbase operates. “The UK is a great first market for the Coinbase card with its thriving FinTech ecosystem and consumer willingness to try new ideas. The Coinbase Card will initially be available in the UK with a view to going live, in the coming months”, said Feroz.
What does it mean for the industry?
Rolling out Coinbase’s Visa card means opening up cryptocurrency payments to a large swath of users who are eagerly anticipating mainstream acceptance of cryptocurrency payments for everyday purchases and it goes without saying that any route that allows users to spend crypto in traditional ways is great for the crypto industry. Niv Abramovich, VP of Product at Coti, believes that utilising the card scheme will increase the popularity of cryptocurrencies. “Making digital currencies more accessible to consumers together with the ability to spend cryptocurrency in the real world could be the next phase to mass adoption and mass market of building digital economies and using digital money”.
“Making digital currencies more accessible to consumers together with the ability to spend cryptocurrency in the real world could be the next phase to mass adoption and mass market of building digital economies and using digital money.”
However, Richard Dennis, Founder and Senior Cryptography Adviser at temtum points out that since a Bitcoin transaction takes at least 10 minutes to enter a block, and 60 minutes to be fully confirmed on the blockchain, the payment processes and exchanges involved are risky. “There is a real possibility that a transaction might fail for a number of reasons, and there is nothing that Coinbase would be able to do about it if it does”, he says. So while the new Coinbase card is a significant step forward to using cryptocurrencies as a medium of exchange for daily purchases, as was the original vision of Bitcoin, Dennis thinks that the current generation of blockchain architecture is not able to completely remove the risk from the payment providers.
Steven Parker, CEO of Crypterium, on the other hand, admits that the card is a good ‘starting point’, however, he argues that the solution is still quite narrow because it will be only available to customers in the UK. “There’s no doubt that crypto debit cards are one of the easiest ways to bridge the gap between the crypto and traditional economies, enabling holders to spend digital assets with the same ease as fiat currencies. Big players like Coinbase play a vital role in spreading the word about this product, but ultimately, companies with more inclusive propositions will conquer the market”, concludes Parker.
Although there are groups on both sides – with some claiming that Bitcoin’s day is over, while others argue a rise in price is imminent – the truth is far more complex. Bitcoin can rise again, but it requires a shift in the crypto industry to happen, says George Zarya, CEO of BEQUANT.
Institutional buy-in
Fundamentally, the retail aspect of cryptocurrency investment has been a huge driver for the market. Small groups of consumers have willingly put money into a wide range of digital assets with Bitcoin being one of the first examples of this. While this has led to huge growth in the market, there now needs to be an equal amount of attention from large financial institutions in order to take the crypto market to the next stage.
This has already begun to occur, with research from the Global Blockchain Business Council (GBBC) showing that up to 41% of institutional investors believe they will be entering the Initial Coin Offering (ICO) sector within the next five years. Through this kind of support from large industry bodies, the cryptocurrency sector will gain further legitimacy – a factor that has historically plagued the asset since its inception.
Compliance first
However, even with the investment of large financial institutions, there still needs to be further reliability in order for coins like Bitcoin to regain their presence in the market. Fundamentally, the ‘new frontier’ that is crypto-investment has been viewed as a lawless and unregulated, leading many financial leaders to resist investment in the sector. Without more consistent regulation in place, the large institutions will always be nervous about entering the market.
While those in the industry have done much to offset these concerns – such as aligning themselves to wider market regulation or creating self-monitoring bodies – there needs to be increased support at a governmental level to legitimise the efforts of the crypto-market. The challenge here is that the controls that different jurisdictions put in place need to strike a balance between making crypto assets more secure while still encouraging sector growth in a burgeoning market.
However, if governments can find this middle ground, the result will be a far more reliable market for investors. Fortunately, there have already been some developments in this area, with increased infrastructure for institutions and more accessibility to crypto banking on the rise.
Without more consistent regulation in place, the large institutions will always be nervous about entering the market.
Avoiding bubbles, promoting reliability
Ultimately, institutional buy-in and increased regulation will set the right framework for a more reliable market. This will result in more stable assets to invest in, with assets such as Bitcoin able to stabilise and grow in line with the market changes. The cryptocurrency market will become less volatile, with investors making better decisions on the future of certain assets and recognising the ICOs that have the most potential.
In doing so, the ‘bubbles’ that have previously characterised the market will decline and there will be a clear distinction between the assets being invested in. Some coins will serve the same use as traditional fiat currency, while others – such as Bitcoin – will feature as more of an investment option for traders. Investors – both retail and institutional – will have a much clearer distinction of these assets and will be able to make informed decisions on which coins to purchase.
To date, Bitcoin’s story has been viewed as a reflection of the wider cryptocurrency market. However, the reality is far more complicated. Regulation and buy-in from leaders in financial services is integral for any market growth and will ultimately inform the future of this well known, if hotly debated, currency.
Website: https://bequant.io/
The comments from Nigel Green, chief executive of deVere Group, follow surging Bitcoin prices at the end of last week. On Friday, the world’s largest and original digital currency jumped around 10% within 24 hours, pushing past $3,700 for the first time in three weeks.
He observes: “It was a relatively sudden jump, and, of course, positive news for those currently holding Bitcoin.
“However, the price only reached the top of the trading range and investors should not be popping champagne corks just yet.”
Mr Green continues: “There are three likely drivers of Bitcoin’s price spike.
“First, there are widely published reports that according to a leaked interview with a commissioner, a Bitcoin ETF could imminently secure approval from the US securities watchdog.
“Second, the development of the lightning network which will dramatically improve Bitcoin’s well-documented scalability issues, allowing it to move towards mass adoption.
“And third, the 2020 Bitcoin halving. The code for mining Bitcoin halves around every four years and the next one is set for May 2020. When the code halves, miners receive 50 per cent fewer coins every few minutes. History shows that there is typically a considerable Bitcoin surge resulting from halving events.”
The deVere CEO concludes: “Bitcoin is the flagship cryptocurrency and, as such, we can expect when its values climb, it will drive prices of other major digital currencies such as Ethereum and XRP.”
(Source: deVere Group)
Ralf Gladis, CEO of Computop, answers questions surrounding regulation and global consensus, with some interesting pointers on privacy and trade therein.
Cryptocurrencies are expected to reach a major turning point in 2019, but they still attract a great deal of controversy. There is no doubt that the digital currency market is growing, and fast, but support from the institutions that matter is far from consistent.
In November, Christine Lagarde, head of the IMF called for governments to consider offering their own cryptocurrencies to prevent fraud and money laundering. Governments, by contrast tend to err on the side of caution, with the vast majority sceptical of what they see as the ‘Wild West of crypto-assets‘ in which investors put themselves at unnecessary and heightened risk. In part this is because a core role of government is to prevent turmoil in central systems, however many have acknowledged that cryptocurrency has a momentum that cannot be ignored and that regulation could help to bring about a more sustainable and less volatile crypto environment.
The scenario is changing all the time, and it is worth considering what would actually happen if all governments agreed that digital currencies were good:
It looks like there is still a lot of work to be done before crypto currency gets anywhere near to being acceptable to governments.
It has equally attracted the attention of retail investors and potential bad actors. Combine the elements of hype tactics, fanciful notions of a new paradigm, and greed, we have the perfect market factors which could induce a frenzy unlike we’ve seen since the beenie babies craze. Oh wait, this sounds awfully similar to 2017, does it not? Below Jamar Johnson, crypto expert and owner of Otravel.ai, explains the potential regulation trends we may be looking at when it comes to cryptocurrencies.
Sure, many are now jumping on the blockchain bandwagon, and it is up to responsible regulators to guide the market and its participants responsibly for the next wave of blockchain mania, if and when it arrives. However, we must take on a more nuanced approach to said proposed regulation: how does a regulator support true innovation while not stifling its stated goals through high-cost barriers to entry as some might argue has taken place in New York with the BitLicense? How does countries like the United States incorporate policy frameworks that are similar to Singapore and Malta which are emerging as a hotbed for attracting blockchain talent? The issue becomes even trickier, when one factors in the opportunities for wealth creation (estimated to be in the trillions) despite the US currently lacks a comprehensive framework towards the blockchain across all 50 states.
Self-regulation organisations are commonplace in other sectors - for example, the Regulatory Authority in the Financial sector (FINRA) plays a major role in the Regulatory organisation of the broker and exchange.
The current EU laws do not provide protection to any investor who can be exposed to the risks of digital asset markets, taking into account the significant prices and the lack of supervision of offers and exchanges.
While many nations have discussed their policy towards the blockchain and cryptocurrencies, some of the smallest countries and regions have quickly moved into the creation of novel laws and programs designed to attract top talent within the blockchain space--like Malta, Singapore, and Puerto Rico being the closest US example, to date.
New and evolving financial technology companies need to comply with a network of laws and regulations that are designed to help customers and finance their finances and reduce the costs of repairing terrorists.
Across the pond, the Financial Authority of the United Kingdom provides fintech companies with a single domestic finance Regulatory Authority, clear qualification and test parameters, the possibility of waivers (on permission and review) and direct cooperation with Regulatory Authority.
The initial coin offer (ICOs) have become a popular way for businesses to earn money by launching a new digital coin in exchange for crypto currencies such as bitcoins or air. In countries like the US, it will be prudent for ICO founders to have clear guidance from a professional lawyer or legal team to help navigate the complex body of legals and regulations surrounding the offering of securities and meeting the Howey Test.
Last year, the Financial Authority (FCA), the UK's Financial watchdog, issued a statement detailing the risk of investment in ICOs.
In February, the U. s. Treasury Committee, which consists of several politicians, launched a request for digital currencies and a dispersed technology or a blockchain.
Part of the act requires digital exchange and portfolio to apply customer-specific care checks such as banks.
The regulatory environment within the US concerning digital currencies are not clear just yet. But we know they are coming and on its way to being formed (look into places just as Puerto Rico, Wyoming, or New York as an example). But regulations are coming. New announcements and stances are being made on a recurrent basis. The benefits for proper regulatory structure in the US is not there just yet, but the opportunity is too great to ignore: new tax base, the ushering in of the next waves of America’s greatest entrepreneurs, and the shape the narrative for the blockchain revolution currently underway.
