How Has The Interest of Governments Increased in Cryptocurrencies?

It seems that digital currencies will become a resource for competition between countries, such as gold and other resources. After the rapid growth and popularity of digital currencies, the most important of which is Bitcoin, governments have begun to gradually abandon the idea of ​​opposing cryptocurrencies.

As indicated by a new report on digital money.

A recently distributed report notes that China remains the undisputed master of the bitcoin market.

Who investigated and explored common assets, phases of cryptocurrency exchanges, and exchange trends in Asia.

The results show that the country with the best impact in the region is China, as the digital money market remains strong in China, despite strict administrative measures.

The report notes that China controls 70% of the bitcoin hash rate (the bitcoin hash rate is a fraction of the record strength used to mine bitcoin).

The rate achieved from China rejects what the Chinese government has announced, which has repeatedly stated that it supports blockchain and does not support advanced cryptocurrency standards.

Bitcoin hash rate in the US is 7%, Russia is 6%, and Venezuela is 0.5%.

The largest cryptocurrency in China is Tether, the computerized cash that leads the East Asian market.

The Messari report additionally says that Hong Kong has more institutional financial professionals than some other countries in Asia, and is changing traditional speculative mechanisms with the new crypto market.

Korea is the country that set the most in the blurring of computerized monetary standards, with 33% of the Korean people being told that they put resources into digital currencies, according to a similar report.

While in Japan, many traditional banks put resources into this region, unlike other neighboring countries.

The report notes that Vietnam has the most stringent standards in the local region, with cryptocurrency being restricted as a legitimate installment strategy and inability of public and security firms to participate in digital money training exercises.