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What is the market value of Cryptocurrency recognized by the state (the market value of Cryptocurrency exceeds the total dollar cash value)

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what market value Cryptocurrency is recognized by the state

The U.S. Securities and Exchange Commission has approved Bitcoin ETF; And Bitcoin has been allowed to be invested as an asset class in some way, and clear laws have been established for it

At present, among all Cryptocurrency, Bitcoin is the first digital token recognized and officially recognized by the SEC, which indicates that Bitcoin is a secure means of value storage According to CoinMarketCap data, nearly 20 countries/regions have approved the price of Bitcoin, with countries such as the UK, Australia, and France also obtaining this approval Nevertheless, some regulatory agencies have not yet confirmed whether Bitcoin in these countries complies with federal anti money laundering laws

For example, the US Treasury Department recently announced that Rossiya Bank can provide customers with encrypted custody services. At the same time, however, the Commodity Futures Trading Commission (CFTC) said: “If a crypto exchange has a circulation supply of more than 100 million dollars,” it may be unable to meet the growing demand of the financial market. “

However, Cryptocurrency in several other jurisdictions is subject to regulatory restrictions

For example, Singapore believes that Cryptocurrency is not a Fiat money but a “transferable asset”, so it should not be allowed to use cryptocurrency assets to pay taxes and other fees In addition, the United States has also approved a decentralized autonomous organization (DAO) based on blockchain technology. According to Coinmarketcap data, 9 out of the top 100 crypto assets in market value currently belong to this association, including Binance, Kraken, BitMEX, Poloniex, and Kucoin In addition, Canada and Sweden are also making decisions on the comparison of the ETF proposal for the special currency

The market value of Cryptocurrency has exceeded the total dollar cash value

Since March 1, the global market value of Cryptocurrency has exceeded the total dollar cash value held by the U.S. government. At present, according to CoinMarketCap data, about 8 companies around the world have encryption assets, including well-known exchanges such as Bitstamp, Coin Security and Kraken, as well as several major encryption asset trading platforms such as Bitcoin Cash Cash (BCH). In the past year, the market share of Bitcoin has continued to increase, and Ethereum has also increased by more than 10%, reaching the highest level of nearly 70% in history

In addition, with the announcement of Federal Reserve Chairman Powell that he will continue to serve as the treasury secretary to impose restrictions on the Stablecoin, the Global financial system began to experience turbulence. (Coinelegraph)

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