The start of 2018 has not been good for the cryptocurrency sector and the prices have dramatically dropped from their highs of 2017. One of the main factors of the decline was due to China, South Korea, and India all introducing negative legislation. Over the last week, cryptos have started to boom again and Bitcoin is once again above the $10,000 mark. The reason for this is due to recent talks held by the financial and governments departs from the U.S. giving crypto the green light.
The adoption of Bitcoin in the U.S. has been slower than many other parts of the world. Many expected it to be the world leader but it is far behind the likes of South Korea and Japan. Asia is the dominant force in the crypto space with most of the mining companies set up here to take advantage of the cheap electricity prices. Many Americans have been fearful of setting up a Bitcoin Wallet due to not knowing what the regulations will be. This uncertainty has slowed the pace of adoption but the recent news that regulators are in favor of Blockchain currencies, that should help speed up the adoption.
There have also recently been a number of U.S. states to take Bitcoin legalization into their own hands to help speed up the process of adoption. A large number of new bills have been introduced that are friendly towards cryptocurrencies and some have even received approvals from state legislatures.
Arizona is one of the states at the forefront of cryptocurrencies and is looking at ways to use the technology to help improve its resident’s lives. The state is close to passing laws that will make