Blockzeit
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
  • EnglishEnglish
    • EnglishEnglish
    • DeutschDeutsch
    • PortuguêsPortuguês
Buy Crypto
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
Blockzeit
No Result
View All Result
Home Bitcoin News
2021 krypto 2

2021 krypto 2

The 3 Most-Historic Instances for Cryptocurrency Adoption in 2021

Tom Nyarunda by Tom Nyarunda
December 30, 2021
in Bitcoin News
Reading Time: 3 mins read
0
Share on FacebookShare on TwitterShare on LinkedinShare via WhatsappShare via Email

2021 has been one of the best years for cryptocurrencies in recent times. Several jurisdictions warmed up to Bitcoin and other digital assets and the all-time-high price in November, without forgetting adoption as legal tender. This article will examine the three most historic regulatory moments for cryptocurrencies in 2021.

1.     El Salvador – Adoption of Bitcoin as legal tender

Taking the bull by its horns, the smallest country in Central America threw caution to the wind and made history by becoming the first country to adopt Bitcoin as legal tender. The date September 7, 2021, will remain historic since it’s when pro-crypto President Nayib Bukele’s Bitcoin law made BTC legal tender alongside the U.S. dollar. The Salvadoran legislature then passed the law, which received a qualified majority of 62 out of 84 votes.

The “Land of Volcanoes” also decided to deploy its volcanic activity to generate new Bitcoins. In September, President Bukele teased a Bitcoin mining factory powered by volcanic geothermal energy in El Salvador, marking a significant case to reduce BTC’s carbon footprint. Soon after, Bukele raised the stakes even higher when he announced his intention to create an entire city of Bitcoin, funded by BTC bonds.

2.     Canada – Scoring in the Global ETF Race

The recent decision by Canada’s securities regulator to license the world’s first physically-settled Bitcoin ETF earns the country a spot as one of the world’s most crypto-friendly nations. The Bitcoin ETF launched in February experienced a massive reception, trading over $564 million in assets within five days of starting.  

In December, Canada extended its leadership in the Bitcoin ETF race when Fidelity Canada launched its Fidelity Advantage Bitcoin ETF and the eponymous mutual Bitcoin ETF fund. The country has proved itself hospitable to cryptocurrencies as it became among the first countries to recognize crypto firms as money service businesses in 2020 officially.

Data from Cambridge Bitcoin Electricity Consumption Index shows that Canada is currently ranked the fourth largest country in Bitcoin mining power, accounting for 9.6% of the total global hash rate.

3.     The UAE – Positioning itself to become the World’s Crypto Capital.

Dubai, the capital city of the seven emirates, recently emerged as the most crypto-friendly country globally. After noticing that the adoption of crypto is steadily increasing, the Dubai Financial Services Authority (DFSA) announced plans to establish a comprehensive crypto regulatory framework as part of its 2021 business plan.

In October, the DFSA subsequently issued several regulatory approvals, including one for a primary Canadian investment product, The Bitcoin Fund. DFSA has also been working on investment vehicles like security and derivative tokens. The Dubai World Trade Centre Authority said it would become a comprehensive zone and regulator of cryptocurrencies, products, operators, and exchanges in mid-December.

🇦🇪 pic.twitter.com/QrgxaHKAp9

— CZ 🔶 Binance (@cz_binance) December 21, 2021

UAE regulators have also come up with multiple arrangements to officially allow and support crypto trading in several free economic zones in Dubai. The nation has also been making strides in Nonfungible tokens (NFT) adoption as its postal operator issued NFTs in November to commemorate the federation’s 50th National Day. In October, Binance CEO Changpeng Zhao reportedly bought his first home in the “very pro-crypto” Dubai. The Chinese-Canadian business executive had previously claimed that he did not own any real estate as of April 2021.

1a49ddd7 d169 48a0 a252 3fc3a2ad01bb 1
Tom Nyarunda

Tom is a freelance writer with over 10-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. As a philosophical figurehead, he believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.

Previous Post

How to Assess the Value of NFTs

Next Post

MetaVisa optimizes the on-chain credit system and integrates decentralized identity into DAO and GameFi as a support to improve the management and service for other projects like YGG

Related Posts

Bitcoin Green Bubble

Market Wrap: Bitcoin Struggles To Break $29K As Credit Suisse Bank Edges To The Brink Of Collapse

by Vincent Munene
March 24, 2023
0

Bitcoin, the world's largest cryptocurrency, is facing yet another hurdle in its quest for recovery as it struggles to break...

Silicon Valley Bank alongside Bitcoin Logo

Bitcoin As Safe Haven Due To Financial Turmoil Caused by Bank Collapses

by Edmond Herrera
March 22, 2023
0

Bitcoin has emerged as a safe haven for investors amidst recent financial turmoil caused by the collapse of Silicon Valley...

Bitcoin Soars Up

Market Wrap: Bitcoin Soars Past $25k As Banks Collapse In Europe & The USA

by Vincent Munene
March 17, 2023
0

Bitcoin has once again reached new local heights as it soared past the $25,000 mark, fueled by a pot of...

Load More

Get updates to your inbox!

Subscribe to our mailing list to receive daily updates!

FOLLoW US:

Blockzeit Logo 10 1

Blockzeit was founded in 2021 in Switzerland with the mission of bridging the gap between the complex blockchain technology and the general public. Blockzeit is a news and education platform that aims to make blockchain more accessible and bring more transparency to the scene.

Popular Categories

Categories
  • Bitcoin News
  • Business
  • Education
  • Investing
  • Markets
  • Metaverse
  • NFTs
  • Politics
  • Press Release
  • Switzerland
  • Technology
  • Trends
  • Uncategorized

Important Links

  • Privacy Policy
  • Disclaimer
  • About us
  • Contact us
  • Blockchain Jobs
  • Events

Contact & Social

For guest posts, contact us via info@blockzeit.com

 

Contact: info@blockzeit.com
Press: press@blockzeit.com

Facebook Twitter Linkedin Instagram
  • Home
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
  • Education
  • Events
© Copyright by Blockzeit.com. All rights reserved.

Disclaimer

SAVE 20% ON BINANCE FEES

Sign Up Here
No Result
View All Result
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
  • DeutschDeutsch
  • PortuguêsPortuguês

© 2021 Blockzeit by Blockzeit.