Are Governments Opening up to Cryptocurrency?

The efforts of certain governments to ban cryptocurrency are arguably the biggest hurdles to worldwide adoption of cryptocurrency, but there are signs that several authorities are having change of heart.

China, India, and South Korea are among the major global nations to have banned cryptocurrency, or have made plans to ban it. When these nations announced plans to ban or limit cryptocurrency transactions, the cryptocurrency market plummeted significantly as a result of these nations’ impact on the global economy.

However, there are many countries, such as Russia and Japan, who were previously skeptical of cryptocurrency that have changed their tune, and more signs are emerging that other major nations may do the same.

China to re-think cryptocurrency?

It has been reported that China is reconsidering its stance on cryptocurrencies. The nation has placed several barriers on CNY-based cryptocurrency trading, although no outright bans. However, in recent weeks, government officials have called for many barriers to be removed.