EddieJayonCrypto
23 Feb 22
Wow! Drastic moves by Russia are definitely holding economies back. That said, I think there are a lot of good things happening that can all lead to good things for the future of cryptocurrencies. Here is what is on my mind today:Wow! Drastic moves by Russia are definitely holding economies back. Th...
Wow! Drastic moves by Russia are definitely holding economies back. That said, I think there are a lot of good things happening that can all lead to good things for the future of cryptocurrencies. Here is what is on my mind today:Wow! Drastic moves by Russia are definitely holding economies back. That said, I think there are a lot of good things happening that can all lead to good things for the future of cryptocurrencies. Here is what is on my mind today:• Continued Russian aggression• FIS, Crypto.com merchant outlook• Brazil cryptocurrency legislation• NFTs advertising standards• Bitcoin inflows1. In a joint report with FIS, a global fintech, Crypto.com has found that 60% of merchants want to be able to accept crypto in the next year. imagine what that means to a company like Block that has a deep reach into the US retail space and making big moves in the crypto space or even a company like mine, Rebel Reach, where we are also about to introduce cryptocurrencies to our ecommerce platform. I am expecting huge growth in that area and not just in the United States.2. Brazil is considering legislation to regulate cryptocurrencies. That said, Brazil is looking to light a fire under crypto adoption in the country. The bill would call for the Brazilian SEC to take a more hands-off approach to crypto in the hopes it would lead to faster public adoption all the way down to everyday supermarkets. There are still 2 more hurdles to pass, but the idea that Brazil would consider such a bill says a lot about the future of cryptos in the country. The Brazilian Senate Economic Affairs Committee has approved the bill. Making the last hurdle President Bolsonaro's approval for it to be written into law. Should that happen, it would make Brazil the largest Latin America country to regulate cryptocurrencies. 3. Let's talk NFTs! The Advertising Standards Council of India has announced specific rules for advertising virtual digital assets. There is a huge need for regulation in the NFT space. An area wrought with enough fraud to warrant regulation to protect the average consumer. 4. Bitcoin inflows are on the rise even as the price drops. In the past, people would get out and stay out for a while. This is not the case this time. This kind of action says people with money are looking at cryptocurrencies as a viable investment and are banking on a rise in price in the future. Mind you, there is about $180 billion waiting to get into Bitcoin.