There is an ongoing battle within the government and political spectrum to either turn their back on crypto or embrace it. This is a monemental decision in my opinon for them.
In this video I discuss how Canada is looking to set up pro-crypto framework in a bill that is in the House. And in the US, Missouri has a bill looking to exempt crypto from personal property taxes.
Countries and areas that embrace cryptocurrency are going to be far ahead of the others by the end of this decade. If Web 3.0 is truly the next generation internet, which many of us believe, we are going to see the ones who reject it trying to catch up. By the time they do that, it will be too late.
▶️ 3Speak
Honestly there just seems to be a battle at the moment between governments that are embracing freedom and others that try to curb it at all costs. Wonder what the correlation between governments embracing crypto and having mask mandates is?
Well some see a benefit to what is happening. Make no mistake, it isnt an altruistic movement.
The politicians are always looking at their own self interest.
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It is just the beginning, once countries are going to realise that inflation will not be temporary… Loads will follow
The US Treasury and LIBOR yield curves are saying this will pass. OF course, a great way to get rid of inflation is to crash the economy.
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It is choice and I believe there is a saying that if you can't beat them you join them, Crypto can't be neglected with the positive offer it has to change things
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Crypto doesnt need governments but it is easier for some on our side to prevent the overwhelming attacks. Having a few in our corner doesnt hurt.
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Once it really hits the adoption tipping point I think that there will be significant economic relief for poorer regions through various forms of folks using, trading, minting and earning crypto.
I am just waiting on a 3D front-end for Hive before I get too excited about any 'metaverse' stuff.
DLUX already has some VR capabilities.
And yes we will see a lot of realignment in wealth creation over the next half decade. People who are aware of this are lining up to take advantage.
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OH! How did I miss DLUX before LOL. Thanks!
I absolutely agree with this. It's a revolution, just like the industrial revolution. At the time, the laggards of the industrial revolution could not close the gap, despite the passage of hundreds of years. I'm so sorry, the government in my country does not take kindly to cryptocurrencies.
That is a good comparison.
We did see it before with the original Internet. So history keeps repeating itself.
Many countries will be left behind in this "race" not that it matters much since there are going to be a lot of governments that are on the way down.
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They might make the proposals but what is the likelihood of it passing? For some reason, I am thinking that these bills most likely won't pass. So would this just be a PR stunt then?
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That is true. It might be a long way from passage. I dont know enough about the different legislature to have any idea whether they have a chance of getting through.
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Whether the crypto would go a long way or not,this fully depends on the credibility shown by the system.
Hope new governments would acclaim this and grant the usage in a sophisticated way.
👍
I would disagree with that. I would say that cryptocurrency is going to succeed whether it is embraced by governments or not.
The only thing this does is determine how much resistance we have or not.
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At least the talks of crypto is happening. Everyone who is talking about crypto or know someone who knows crypto, is already onboard. 2022 will be better year for crypto. More institutions and the governments are involved.
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This is free publicity to us. Even if the stuff does not pass, the attention helps a great deal.
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I post some tweet police shows on social media and visit people at home to " educate" them.
Will we see that in our lifetimes? maybe
@taskmaster4450l a day will come when every country will accept Bitcoin and cryptocurrencies as legal tender
Honestly this is a very good idea and just as I believe and say, crytpto is the future and honestly the future too is here
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STOPCheck out the last post from @hivebuzz:
I think that if crypto adoption in the States increases significantly as you predicted we might see other regions with stiff crypto regulations loosen up. I don't know how this will play out in Africa as we have strong ties with China and China currently doesn't seem to be pro-crypto.
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Summary:
In this episode, the speaker discusses the growing support for cryptocurrencies at the state level in the United States and uses Canada's potential national framework for cryptocurrency as an example. He mentions several states like Wyoming, Texas, and Georgia that are becoming crypto-friendly, along with Missouri introducing a bill to exempt cryptocurrency from state property taxes. The speaker emphasizes the importance of embracing cryptocurrencies to attract businesses and promote innovation. He predicts that more states will follow suit in creating friendly crypto regulations, especially with the upcoming elections.
Detailed Article:
The episode delves into the increasing trend of states in the United States showing favorable attitudes towards cryptocurrencies, aligning with the broader global shift towards embracing digital currencies. The speaker highlights the developments in Canada, specifically a bill passed in the Canadian House aiming to establish a national framework conducive to cryptocurrencies. This initiative reflects a proactive approach by Canada to position itself as a crypto hub, signaling a positive step towards embracing the potential of digital currencies.
Furthermore, the speaker draws attention to specific states in the US that are actively working on becoming more crypto-friendly. Wyoming, Texas, Tennessee, Miami, and New York City are mentioned as examples that are making strides in attracting and accommodating cryptocurrency firms. More notably, he mentions Georgia entering the arena by attracting cryptocurrency miners to the state, a move that contrasts with the potential bans on cryptocurrency mining in Europe, particularly the EU. This contrast underscores the diverging approaches by different regions regarding cryptocurrencies.
The discussion includes the introduction of a bill in Missouri that seeks to exempt cryptocurrency from state property taxes. This exemption is framed as a strategy to encourage innovation and attract businesses to the state, painting a broader picture of how states are competing to create environments conducive to cryptocurrencies. The aim is to position themselves as attractive locations for crypto-related businesses, envisioning a future where cryptocurrencies play an integral role in the economy.
The speaker navigates the complex tax implications surrounding cryptocurrency transactions, highlighting the nuances and potential changes in regulations. An upcoming bill in Congress that could exempt transactions under a certain threshold from taxes is discussed, shedding light on the evolving regulatory landscape in the US. The overall tone emphasizes the need for states to adapt and embrace cryptocurrencies to stay competitive and foster economic growth in this rapidly evolving sector.
In conclusion, the speaker anticipates a surge in the number of states implementing crypto-friendly regulations, buoyed by the promise of economic growth and innovation that cryptocurrencies offer. The upcoming elections in the US are positioned as a catalyst for politicians to engage with cryptocurrency-related issues, leading to a predicted increase in the number of states with favorable crypto frameworks by the year's end. This aligns with the broader narrative of how jurisdictions worldwide are navigating the rise of cryptocurrencies and blockchain technology, recognizing the potential benefits they can bring to local economies and innovation ecosystems.