The U.S Leads Globally Upon Crypto and Blockchain!

Bitcoin Mining Difficulty Drops 1.5% Since November Last Year
  • The U.S will not ban Bitcoin and cryptocurrency.
  • Crypto adoption rises dramatically all over the U.S.
  • The U.S to also become global leader for blockchain technology and Decentralized Finance (DeFi).

We all would have surely heard of the saying ‘One’s downfall becomes the other’s strength’. And so, according to it, with the downfall of the crypto industry and market in China and Russia due to the crypto ban rules and regulations imposed, the U.S is all set to lead the world globally in about all aspects of the cryptocurrency industry. 

This includes Bitcoin (BTC), cryptos, blockchain, Decentralized Finance (DeFi) and much more. In such terms, both the U.S Securities Exchange Commission (SEC) and the U.S Federal Reserve both pull the statement officially that the U.S would not ban crypto or any of its attributes. 

The SEC’s Statements

It is ofcourse a moment of joy for the entire nation of U.S, when Gray Gensler the head of the U.S SEC officially stated on the first week of October regarding the cryptocurrency industry and market for the nation. 

Accordingly, Gensler officially declared that the U.S will not be banning BTC, crypto or any other crypto attributes like the blockchain, DeFi and much more. Hence, it’s officially declared that no rules or regulations imposed will be imposed for the ban of any of these attributes. 

Besides, Gensler states that the main aim of the U.S SEC is to make sure of the security aspects and protect the assets of the investors by properly regulating the crypto industry and market for the nation. This includes busting out money-launderings, fake crypto scams, fake smart contracts and so on. 

The Federal Reserve’s Statements 

On the other hand, it’s obvious that even before SEC declared the above said. Accordingly, at the end of September, the Federal Reserve chairperson, Jerome Powell announced officially that the regulator has no intentions of banning BTC, crypto or any more of its attributes. 

Moreover, Jerome Powell upon questioning on the ban of BTC and crypto, he firmly said no and that he would not ban them. The news obviously took to fire upon all the media. 

Furthermore, this may also be a reason for the entire crypto industry to flourish throughout the month of October, with many new investors pouring in specifically from the U.S.

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.