Cryptocurrency has demonstrated its practical uses during crises, challenging the notion that it is merely speculative. Notable examples of its utility include the Cypriot financial crisis in 2013, where citizens purchased Bitcoin as a stable alternative to the euro. In Afghanistan, women utilized Bitcoin through coding initiatives, allowing them to circumvent restrictive banking laws and retain their savings amid governmental upheaval. With the U.S. regulatory environment in flux, particularly under a new SEC administration, clarity in crypto regulations is deemed crucial for fostering innovation and maintaining competitive advantage globally. Key figures in the industry advocate for clearer rules, suggesting that many cryptocurrencies should fall under the jurisdiction of the CFTC rather than the SEC to facilitate growth and development. The pressing need for regulations is underscored by the potential of cryptocurrencies to serve real-world needs even as market skepticism persists.

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