Despite diverse viewpoints on cryptocurrencies around the world, adoption continues to grow at an astonishing rate

Governments around the world are taking different stances on #cryptocurrency. While proponents emphasize innovation and financial inclusion to support crypto, opposers question the stability and sustainability of the system.

On one hand, crypto-friendly countries like Malta, Switzerland, El Salvador are known for their soft stance on cryptocurrency investments. On the other hand, there are governments that are threatened by the idea of crypto and ban all cryptocurrencies- China, Egypt, Iraq, just to name a few.

There is a middle ground too, where crypto isn’t entirely banned, but discouraged by the way of strict regulations and tax regimes. A very recent example is India, where all virtual digital assets are being taxed at extremely steep rates. Surprisingly, the Indian crypto community remains undeterred by the law.

Irrespective of the opposing views, however, transition to cryptocurrencies is inevitable, evidenced by the widespread adoption. Triple-A estimates over 300 million crypto users worldwide with over 18,000 businesses already accepting crypto payments.

Centralised crypto exchanges saw a 689% increase in trade volume in 2021 itself. This growth is exponential. And it’s proof that there’s no stopping cryptocurrencies from becoming mainstream.

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