The Crypto Adoption wave is going at a faster speed than anticipated as no one wants to miss a lucrative market like crypto. We are open to the adoption of Cryptocurrencies as legal tender says the President of Argentina Alberto Fernandez.
Every country on this planet is wondering whether they should adopt crypto or not. The idea of a decentralized economy is very lucrative and attractive but at the same time volatility of the market and some scams raise an alarm. El Salvador, Paraguay, and now Argentina are following one another in the streak of accepting Bitcoin. Legislation and regulation are ongoing in most parts of the world to avoid people from losing their money. Crypto Adoption is on its peak as many organizations are being involved in this.
The president of Argentina expressed his opinion on crypto in a TV show hosted by an Argentinian journalist. The President was asked whether his government is thinking to adopt cryptocurrency or not. He said that we haven’t decided yet but as whole world is trying to understand this complex innovation so are we. Crypto Adoption is bit complex and time taking process.
“This is a subject that must be treated carefully. In my case, because it is still unknown to me. Some still don’t understand how this money is materialized. These doubts I have are shared by many, that’s why the project has not expanded further.”
The president has also stated his concern about the crypto market. He said that:
“Everything is possible. Some say that the advantage of this is that the inflationary effect is nullified in a big way. It is also true that it will bring insecurity because some big scams have been verified to be done using cryptocurrencies. It’ is a difficult subject to touch.”
Central Bank on Crypto Adoption
The president of Central Bank thinks different from the President of country. The president of Central Bank stated that the institution was interested in regulating the intersection of bitcoin and the traditional payment system on August 11. Crypto Adoption is good as more country involve the more bullish market gets.