We’re not looking at crypto prices just yet – they’re still a mixed bag 🙈. However, the past week was a huge one for crypto adoption around the world. Apparently, the whole world is now seeing the light 🔆.
Let’s take a quick look at some of the headlines you might have missed:
There’s No Stopping El Salvador Now 🚀
Two weeks ago, El Salvador’s government introduced a bill to make Bitcoin legal tender. Last week, the bill passed ✅. Quicksilver has nothing on these guys ⚡. El Salvador’s President announced the historic landmark on Wednesday, to the excitement of everyone in the cryptoverse. Now, merchants and businesses in the country will have to accept Bitcoin by law. It’s El Salvador today; who knows who it could be tomorrow? 😉
Another Week, Another CBDC Move ✌️
Hong Kong’s government recently published a strategy to become a global FinTech hub and guess who showed up – that’s right, a Central Bank Digital Currency (CBDC)! 😃 The strategy shows that Hong Kong’s government will speed up research into CBDCs. They will also work with China to make their CBDC work well with the digital yuan 🤝.
Strap on Your Cowboy Boots 🤠
This week, the Texas House of Representatives passed a law recognizing cryptocurrencies. Under the law, state banks will be allowed to store Bitcoin and other cryptocurrencies for their customers. As long as their activities aren’t illegal and the banks have proper risk management, all systems go!
Bitcoin: Dead in the Dutch Waters? 👀
While everyone is accepting Bitcoin and making it easy for their citizens to use it, one Dutch official isn’t so impressed 😒. Last week, Pieter Hasekamp, a Dutch policymaker, published an essay calling for a ban on Bitcoin. The essay was filled with the same old arguments about why Bitcoin is bad and shouldn’t be accepted. It’s just one man’s opinion, so we probably shouldn’t lose sleep over it.
India’s On-Again, Off-Again Bitcoin Tune
The Indian government moved to ban cryptocurrencies earlier in 2021 – less than a year after the Supreme Court allowed them in a landmark case. Last week, a report confirmed that the government might change its mind once more 🤯. According to the report, the government is working on regulating cryptocurrencies; not banning them completely. Bitcoin loves you, India; all you have to do is love it back. 🙃