Mineable and tradable from anywhere, cryptocurrency is borderless. Its adoption nevertheless hinges in part upon the stance taken by nation states. Politicians have the power to integrate, legitimize and push crypto to the next stage of mainstream adoption. A number of influential politicians around the globe have expressed varying levels of support for digital currencies and blockchain technology.
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Cryptocurrencies Are Essentially Borderless
Pressure has been building on regulators to increase oversight of cryptocurrencies, whose stateless nature makes them difficult to restrict. There has been an expansion of economic activity on a global scale geared around quantifying and regulating crypto assets.
In 2019, politicians and regulators will play a pivotal role in pushing cryptocurrencies into the realm of mainstream finance. Cryptocurrency investing remains a high risk pursuit, but greater regulatory clarity may help to legitimize this nascent asset class, and grant investors greater protection. A number of politicians have been instrumental in bringing bitcoin and other cryptocurrencies into the spotlight, with some openly advocating crypto’s many benefits.