The global growth of cryptocurrency is something which has been keenly followed by investors and casual parties alike. After all, the success of crypto as a global currency will depend on its ability to adapt to changing circumstances and to spread out its reach across the world.
The CEO of Ripple has recently taken to Twitter to discuss his beliefs about the current state of crypto and says that the currency is growing in places like Brazil. Controversy about the company aside, it’s strong news that does help to put the community in a positive light.
Positive Growth on the Horizon
The news came when the CEO took to Twitter to outline his thoughts about the growth of crypto as a global asset. When talking about the list of countries that have begun implementing the currency across the world, he had this to say:
“The list goes on (Brazil’s new legislative framework etc.) Note the commonalities – these regulators are providing leadership and doing the work that we are desperately missing in the US – unsurprisingly, this is where companies like Ripple are growing!”
The comments of the CEO were primarily directed at Brazil, which has made waves by being one of the big countries for adopting crypto as an asset. The country has not only legalised crypto, but they have been creating a legal framework which can help the currency to operate safely and legally.
The Global Rise of Crypto
The rise of crypto as a global asset is something which has been, ultimately, coming for a while. With countries like Brazil making frameworks and other countries like Switzerland using the currency as a tender for small transactions already, the global place of crypto has been the topic of debate for a few years now.
Widespread use of things like Bitcoin and Ethereum would need a lot of regulation and governance to make it effective, but it hasn’t happened. There are some who fear government intervention in crypto as they feel that it will either damage the community irreparably or cause massive issues for it going forward, but most recognise the change as inevitable.
For now, it’s a sign that crypto is continuing to evolve, and many don’t know what this will mean for the community as of yet. Some people feel that this is good and positive and makes a surge in interest. By building these frameworks and successfully trialling them in comparatively smaller countries like Brazil then, it provides a good starting point for massive powers like the US, who will need to build their own framework.
Final Thoughts
We at Bitcoin Bible feel that when it comes to things like the global development of crypto, it’s good we’re seeing countries like Brazil establish a foothold. The biggest challenges to crypto and government intervention will invariably come from the US, so the more countries that have used it before, the better. However, we don’t know what will happen yet – only time will tell.
