We brought you the news that El Salvador has adopted Bitcoin as legal tender. This was a pretty big step towards mass adoption of Bitcoin. However, reactions to this adoption have been very different from different countries. Let’s take a look at them.
Same arguments over and over again
Even on the day El Salvador passed the Bitcoin law, supporters cheered. However, many governments and regulators shook their heads and loudly criticized the move. Once again, arguments about the environment and trepidation were made. More recently, US Senator Elizabeth Warren has also criticised the same. Although we now know that most of the energy used to extract BTC already comes from renewable sources. We can only hope that one day regulators will see that decentralised money is closer to transparency than the current financial system.
El Salvador as an example
In the future, we can expect two scenarios. One scenario is that governments and regulators will take a page from El Salvador’s playbook and see the benefits of decentralized currencies and accept less control over the circulation of assets. Or they will follow the example of the cryptocurrency ban and try to increasingly suppress cryptocurrencies with a competitor called CBDC. It will also be up to the people which path they take and whether they prefer to have control over their money or feel safer if someone else manages their money
PlatonCoin offers both
But if you’re intrigued by the concept of cryptocurrencies and would like to try working with them and experiencing the freedom, we have an opportunity for you to dive into the world of cryptocurrencies safely. Our wallet is insured, so you don’t have to worry about losing your money. At the same time, we offer you the freedom you can only experience with cryptocurrencies. It is possible that we will see the future that has already begun in El Salvador.