According to Cointelegraph, although cryptocurrencies have long been viewed as speculative tools, Bitcoin has shown its real application during times of crisis. In 2013, during the EU bailout crisis, the people of Cyprus viewed Bitcoin as a safe-haven asset.
In Afghanistan, women are turning to Bitcoin as they are unable to open bank accounts, helping them preserve their assets during the Taliban's return to power. Such cases demonstrate the importance of cryptocurrency beyond the speculative market.
In the United States, the Trump administration faces challenges in regulating cryptocurrency. Paul Atkins has taken over from Gary Gensler as SEC chairman, facing pressure to clarify the regulatory scope of assets. Boring believes that most cryptocurrencies should be regulated by the CFTC.
Clear regulatory rules are crucial for developers, investors, and policymakers, allowing the United States to gain an advantage in global competition.
