Although the cryptocurrency-blockchain industry had been operational since 2009, it is the current year 2020 when it has gained mainstream success. With some of the major institutions such as PayPal, MicroStrategy, and many other onboard, crypto-adoption has gained vast popularity.
In the current year, many countries have realized the importance and need for adopting the crypto-blockchain industry. Yet there are many uncertainties and ambiguities when it comes to the regulatory framework and its imposition.
Countries such as Russia, Japan, China, and Switzerland however, have introduced some very well calculated regulations before passing the laws on Cryptocurrencies. These countries have now legally accepted cryptocurrencies as financial assets.
Yet, there are many crypto-firms who are heard sharing their concerns around the harshness/strictness of the crypto-regulations. There are some crypto-firms that have even taken the action of leaving the countries whom they thought were being very strict and enforced with regulations.
However, there have been several regulatory activities that have been very loud and clear for the crypto-firms in the current year. After the pandemic and crypto-industry saving the day, many countries have realized the importance of crypto-technology.
But to ensure that they make the best out of them, the first need is to have a risk-free, flawless, and sensible regulatory infrastructure in place. This is the reason why Governments from around the world are now discussing new actions, providing more clarity, and executing enforcements when it comes to cryptocurrencies.
Just recently, it was Seamus Donoghue who is the vice-president at METACO in the sales and business development department who talked about the Government behavior around crypto-regulations.
Donoghue stated that the regulatory reforms made by Governments from around the world have played a key role in the crypto-industry. It is because of these reforms that the crypto-industry has started gaining mainstream recognition. In the running year, the cryptocurrency industry has broken all its previous records whether they are related to user-base, adoption, capitalization, and advancements.
He also stated that with time, the countries have also started lowering the regulatory barriers and restrictions they had in place in the past. In the running year, crypto-regulations all around the world have become very user-friendly and easily adaptable.
With the adoption of these regulations, the crypto-industry has seen many financial giants enter its space in the running year. While talking about the regulatory adoption, Donoghue stated that the regulatory-barriers will keep on getting more flexible and user-friend even in the coming years.
While talking about mass-adoption from the financial giants, Donoghue talked about two major financial entities that are MassMutual and MicroStrategy. He stated that just a few days back, MassMutual made a $100 Million investment in Bitcoin (BTC). On the other hand, MicroStrategy has been making huge investments when it comes to Bitcoin (BTC).
Back in September 2020, the firm made an investment of $435 Million and has just made an announcement two days back that it will be making another investment in Bitcoin (BTC) worth $650 Million.