By Nicolas Abington | Crescent City Capital Market Analyst Intern
While traders have their focus drawn on the price, it’s important to realize that adoption is the real key to future positive investments. Some countries are making that process easier than others but some of the most unsung heroes of the movement are spread throughout Europe. Examples of countries include smaller regions like Malta, Gibraltar, and Slovenia which make up for what they lack in populations with their encouraging leadership regarding cryptocurrencies adoption. Maltese leadership especially has put all its focus into making cryptocurrencies available to the public through generous tax laws and creating a sense of pride around crypto by becoming the “Blockchain Island.”
Malta isn’t the only European entity looking to implement common cryptocurrencies into their daily transactions, large nations like Sweden and Germany are making significant moves towards regulation as well. Germany has just passed major legislation in conjunction with the country’s biggest banks to allow for banks to sell and store cryptocurrencies essentially making them exchanges. While it should always be emphasized that if you’re not the holder of your keys you don’t own the crypto, having traditional institutions be able to bridge the gap for those looking to adopt is an ultimate good for the adoption of cryptocurrencies into everyday life. Adoption can be slow and frustrating at times but countries doing their best to adapt to the change must be celebrated so we can replicate their actions in other countries. The road ahead for crypto adoption is long but it will be easier as more countries realize its importance for becoming a more globalized society.