UK Starts Pushing Heavy Towards Crypto Adoption
There's been a lot of news about the UK today and it's plans towards crypto adoption and make it more mainstream there. In this article I'll go over the three key factors coming out of the UK/Britain and how it could effect markets and overall crypto adoption.
Let me just state that to me all of this is bullish in the sense that crypto will always be around and only continue adoption rate into the world.
Regulating Some Stablecoins
Ah the dreaded news some of us old school crypto people hate hearing. Regulations, but Unfortantlly for many to invest it has to be regulated in order for others to buy it and for it to continue to become more mainstream. This push by governments it to say it will instill "trust" in digital currencies and more people will invest. I mean... that's laughable but they will say what they want.
Unfortantlly for adoption it does have to happen and it would become more common place and it would allow creation of jobs around it and businesses. Which stablecoins will be used and regulated. I guess the one good thing that comes out of it is places like tether would be fully held accountable. There's been a lot of iffy things since the launch of Tether that makes questions arise about just how much people should trust it or not.
Britain Minting NFTs
Britain says it will mint their own NFT and apparently "lead the way" for crypto and become a "world leader" in the crypto space. As you can tell I'm not very excited or think much of it myself lol I'm curious if others are actully hyped about it or not or simply rolling their eyes at this news.
The NFT should be created by this summer but there are no real details about what exactly the NFT will be. Speculation on what this NFT might be? I'm putting it towards some type of monument in the UK but besides that I'm sure it wont have any other features which pretty much kills the hype at least for me.
Worlds Crypto Hub
Overall UK is trying to adopt and become the "global hub" for crypto. It wants to be ready to fuel the next innovation of blockchain, web3 and crypto as a blended system that is regulated.
Personally I feel they are too late. Crypto already is main stream and what I believe most people like about it is sticking it to the A hole governments. It gives it a rebellious nature which gives it more demand. It also enjoys no regulation which gives it that privacy and restoring of freedoms that has been taken away from people over the last 20-21 years. This in itself is what I personally feel gives crypto it's real value and not some government adoption.
Could government adoption of some cryptos kill them? It's very possible once tracking and regulations kick in which removes privacy I feel like people are going to abandon it. What we will see though is stablecoins mainly which will simply be backed by something held by the government that is fully tracked and regulated. I firmly believe once this really does happen there's going to be a split into what is used and for what. The regulated mix of cryptos and stables which is fully tracked will most likely be used by heavy investors and the privacy focused cryptos will pave a new way for the OGs and they wont touch each other as a tracked coin interacting with a tracked token in a swap or exchange will make a connection as to who that person is.
I could be wrong but that's my speculation for the future for how things look to be trending. What's yours?