While cryptocurrencies and blockchain tech are being embraced all over the world, it’s the USA that’s showing the greatest signs of welcoming crypto with open arms. For instance, on October 6, the US Securities and Exchange Commission (SEC) chairman Gary Gensler confirmed that cryptocurrency will not be banned by the regulator. This confirmation is sure to excite crypto advocates in the USA, as most national-level authorities around the world have not been very clear in terms of their stance towards crypto.
The confirmation also points to the probability that the US government will actually promote crypto adoption in the future. This will mean that the crypto market will run in the country alongside its traditional economy, similar to what’s happening in El Salvador right now. Right now, crypto adoption is growing in the USA at a breakneck pace, and there’s every chance that the USA will go on to become the biggest crypto player in the world.
As far as blockchain tech adoption goes, the USA is making some serious moves. The country already boasts of numerous companies and start-ups that are coming up with radical innovations in the world of blockchain. The best thing about these innovations is that blockchain tech is being used not just in the world of crypto, but also in other fields. Through blockchain tech, data can be recorded and shared in a much more secure manner than other methods.
All in all, it’s fair to say that the words of the US SEC chairman point to the fact that the USA will one day dominate crypto and blockchain tech.