A significant surge in cryptocurrency investment has swept across the globe. Every country worldwide is now actively considering their stance on cryptocurrency. Cryptocurrency was even at the center of the US election. Various studies have shown that cryptocurrencies could dominate the economy in the next few years. Despite the political divide in America, Republicans and Democrats agree that cryptocurrencies will dominate the economy of the future. A survey found that more than half (53 percent) of Americans see crypto as the future, including 59 percent of Democrats and 51 percent of Republicans.
Currently, Americans want the regulations for crypto to be more transparent so that they can adopt it better. Republicans and Democrats also agree on the need for regulation to ensure that it becomes a safe investment option for American investors. 4 out of 5 Americans have a positive view of crypto.
The possibility of this dominance has been some of the bases for its outright rejection by most. That’s because, they see in so many ways how they wouldn’t be generating the needed income from taxes not being able to properly regulate cryptocurrency nor taxe it. This makes it a daring thing to do because, once they accept it and open the eyes of the public to what could be, there wouldn’t be any going back from there.
Regulation as well isn’t something that the crypto space is about as, it’s some of its many qualities that makes the space more adorned and taking that away from it would mean, taking a part of its qualities. Little wonder why people run from doing KYC. They want a space with no ties .