Broadening Cryptocurrencies' Horizons in More Ways than One
Cryptocurrency has hit the big leagues since its official introduction back in 2009. During the early years, it was a little-known and even more seldom-discussed element of the technical and financial realms. Now, it's a worldwide fusion of the two sectors with the industry projected to hit the $1 trillion mark by year's end. Given its $700 billion value just a few months ago, this milestone could easily come to fruition. While a few key players have made headlines in the cryptocurrency world, binance news is among the industry's latest hot topics.
Fostering the Cryptocurrency Sector
Plenty of people stand ready to argue the value and even legitimacy of cryptocurrencies. Some say they're not valid as currency by the conventional definition of the term; after all, in order to be considered currency, something must be generally accepted and in use as money in a particular country. By those terms, cryptocurrency may not be legal tender at all. Still, it's becoming increasingly more widely used and accepted, so maybe it does technically fit the bill.
Disputes also circulate about cryptocurrencies' value, or lack of such, as the case may be. According to traditional standards, value lies in usefulness, security, supply, demand and certain other factors. As it turns out, cryptocurrencies happen to fit those standards as well despite not being quite as widely recognized as other items and forms of money.
Making New Strides
As cryptocurrencies continued along their upward trend, a few notable names in the fintech sector ultimately decided they should be more accessible and tradable for those interested in getting in on the action. While certain currency exchanges turn up their noses at cryptocurrencies, a few have emerged wholeheartedly ready to bridge the gap. Based on the latest binance news, this particular front-runner is prepared to take matters even further.
Recently, the company announced plans to move its operations to Malta, a country completely open-minded to cryptocurrencies and currently not interested in attempting to regulate these wholly digital items of value. The Binance CEO is a veteran in the financial industry and fully understands the potential implications of going against the grain of governments who aren't so accepting. He likewise realizes giving in to the whims of those who want to regulate the industry would, no doubt, detract from the overall value of cryptocurrencies. Both these factors played considerable roles in Binance's decision to relocate.
Bottom Line
Binance isn't the only fiat-to-cryptocurrency exchange in operation; however, others haven't shown quite the same initiative to head for less restrictive shores. This doesn't mean the company is trying to root others out of the industry, though. Members of the press have heard Binance CEO say "We don't want to compete with Coinbase" on a few different occasions. While the two may not be in competition, broadening the horizons of the industry is sure to have a significant impact.
Fostering the Cryptocurrency Sector
Plenty of people stand ready to argue the value and even legitimacy of cryptocurrencies. Some say they're not valid as currency by the conventional definition of the term; after all, in order to be considered currency, something must be generally accepted and in use as money in a particular country. By those terms, cryptocurrency may not be legal tender at all. Still, it's becoming increasingly more widely used and accepted, so maybe it does technically fit the bill.
Disputes also circulate about cryptocurrencies' value, or lack of such, as the case may be. According to traditional standards, value lies in usefulness, security, supply, demand and certain other factors. As it turns out, cryptocurrencies happen to fit those standards as well despite not being quite as widely recognized as other items and forms of money.
Making New Strides
As cryptocurrencies continued along their upward trend, a few notable names in the fintech sector ultimately decided they should be more accessible and tradable for those interested in getting in on the action. While certain currency exchanges turn up their noses at cryptocurrencies, a few have emerged wholeheartedly ready to bridge the gap. Based on the latest binance news, this particular front-runner is prepared to take matters even further.
Recently, the company announced plans to move its operations to Malta, a country completely open-minded to cryptocurrencies and currently not interested in attempting to regulate these wholly digital items of value. The Binance CEO is a veteran in the financial industry and fully understands the potential implications of going against the grain of governments who aren't so accepting. He likewise realizes giving in to the whims of those who want to regulate the industry would, no doubt, detract from the overall value of cryptocurrencies. Both these factors played considerable roles in Binance's decision to relocate.
Bottom Line
Binance isn't the only fiat-to-cryptocurrency exchange in operation; however, others haven't shown quite the same initiative to head for less restrictive shores. This doesn't mean the company is trying to root others out of the industry, though. Members of the press have heard Binance CEO say "We don't want to compete with Coinbase" on a few different occasions. While the two may not be in competition, broadening the horizons of the industry is sure to have a significant impact.
