The introduction of a bitcoin futures ETF in the U.S. was a telltale sign that the world's top economy could be the global hub for cryptocurrencies and blockchain if it wanted to be.
While other countries were already early adopters in the digital currency space, the U.S. could prove that being first doesn't always translate to market dominance. The sheer size of the U.S. GDP alone could help propel crypto and blockchain usage to the next level in terms of adoption.
Of course, it will take help from a receptive U.S. government, and lately, that help has been there. The bitcoin futures ETF from ProShares itself faced an upward climb on the SEC's legal mountain to approval, but its entry into the New York Stock Exchange showed that the U.S. wasn't averse to crypto.
"On Oct. 6, Gary Gensler, head of the U. S. Securities and Exchange Commission (SEC), confirmed during a House Committee on Financial Services hearing that the regulator will not ban cryptocurrency, potentially blazing the path for the world’s largest economy to become the global leader in the development of decentralized finance (DeFi) and blockchain technologies," a Cointelegraph article said.
Continue reading: https://www.nasdaq.com/articles/will-the-u.s.-become-the-global-hub-for-crypto-and-blockchain-2021-11-01
While other countries were already early adopters in the digital currency space, the U.S. could prove that being first doesn't always translate to market dominance. The sheer size of the U.S. GDP alone could help propel crypto and blockchain usage to the next level in terms of adoption.
Of course, it will take help from a receptive U.S. government, and lately, that help has been there. The bitcoin futures ETF from ProShares itself faced an upward climb on the SEC's legal mountain to approval, but its entry into the New York Stock Exchange showed that the U.S. wasn't averse to crypto.
"On Oct. 6, Gary Gensler, head of the U. S. Securities and Exchange Commission (SEC), confirmed during a House Committee on Financial Services hearing that the regulator will not ban cryptocurrency, potentially blazing the path for the world’s largest economy to become the global leader in the development of decentralized finance (DeFi) and blockchain technologies," a Cointelegraph article said.
Continue reading: https://www.nasdaq.com/articles/will-the-u.s.-become-the-global-hub-for-crypto-and-blockchain-2021-11-01
