Categories: Blockchain Investments
Topics: Cryptocurrency

A Change in the Crypto Conversation

Could we be starting to see widespread acceptance of cryptocurrency? 

Love it or hate it, cryptocurrency has been a hot topic of discussion in financial circles since Bitcoin was introduced to the world nearly 15 years ago. 

There’s nothing to indicate that attention is going to go away anytime soon. As time passes, what once was seen as a novelty is now looked at by many as a serious financial instrument. Now, governments are being forced to take interest. 

While some have been fighting to make these digital coins accepted alongside traditional currencies, some are calling for outright bans on all crypto because of the volatility they present. 

Some critics go so far as to consider things like Bitcoin, Ethereum, and others as fraudulent because they aren’t backed by a government or central bank. That’s been one of the key arguments at the core of efforts to ban these currencies and dissuade people from buying them. 

But over time, crypto has persisted. Now it’s looking like the conversation around them could be seeing a change in tone. 

At least, that could be the case if a recent statement by the International Monetary Fund is to be taken to heart. The IMF, along with the Financial Stability Board, recently jointly published a policy paper about cryptocurrency. Among other things, it warned that countries should not put blanket bans of the currencies in place to lower risks. Instead, the papers insisted on targeted restrictions and sound monetary policy. 

The reasoning that the two regulatory bodies gave is that blanket bans won’t eliminate the risks inherent to cryptocurrency. Instead, those issues can be better addressed with regulation and supervision. 

With these safeguards, countries can cooperate and share information so that they can more easily adapt to the constantly changing crypto environment. 

These regulations, whatever they look like, would be a baseline. Countries could adopt further regulations that fall in line with their unique circumstances. 

This is by no means an endorsement of cryptocurrency. The fact that these regulatory bodies suggested that a total ban would be useless indicates that there will continue to be a future for cryptocurrency.

This sort of news is a boon for crypto enthusiasts. Opponents of the currencies may be less than happy with it. 

Just ask the US Securities and Exchange Commission. Under the leadership of Gary Gensler, the agency has been critical of cryptocurrency’s place in the markets. They faced a setback thanks to a recent court victory that deemed that the SEC was wrong to reject a proposal by Grayscale Investments to launch a Bitcoin ETF.  

The industry saw the ruling as a step toward legitimacy because an ETF would allow investors to invest in Bitcoin without having to actually own it. That kind of wider acceptance is something that crypto advocates have been fighting for, and they may be a step closer to getting it between this and the IMF’s recent statements. 

There is no guarantee just yet, of course. The SEC could appeal the ruling and tie it up in court for years. But the conversation about cryptocurrency’s place in the market is getting louder. 

And as it gets louder, anyone interested in buying into the space is going to need the kind of guidance that can help them make the right choices. 

This coming Wednesday, September 13 at 2pm Eastern Time, John Carl will be sitting down with cryptocurrency expert Chris Curl, who made 20,000%+ returns during the last crypto bull.

They’ll be discussing where the market is and where Chris sees it going. Plus, he’ll be taking questions straight from the audience. 

Anyone interested in the crypto space won’t want to miss this event. Learn all of the details here, and get ready to profit from what Chris sees as a coming bull market in crypto.

Ryan Stancil
Editor, Daily Profit Cycle