Suddenly institutions and nations are making room for Bitcoin

[Hypnotizer]

-snip

Firstly, I'm not surprised with seeing bigger institutions accepting and welcoming bitcoin because why not?
Secondly, I am seeing government involvement in cryptocurrency as not a very exciting thing and this is because, there might be some high rate of regulations that certainly wouldnt favour the regular holder and I believe taxation should even be the least we should be worried about if the government involves fully in bitcoin and cryptocurrency at large.

Institutional adoption has it downsides but for general adoption and price growth it’s a welcomed development for bitcoin.

Regulations are already taking shape in many countries that’ve recognized bitcoin either as a property or investment and their reasons for this regulation are probably just two main things, AML which enforces mandatory KYC and then taxes from the crypto industry. So taxation isn’t the least important thing in Government involvement in cryptocurrency.

[Ever-young]

This is actually a good development it’s just not common In this country of our. How real bitcoin has been, they have tried shaping it if it can be under their control but everything seem impossible. Bitcoin is in a state where you can only like or hate it but cannot change it. They have known bitcoin for years now and have seen that there’s nothing they can do about it because with or without them, bitcoin remains the same so they just have to fit in.

My country are still looking for a means where it is going to be very profitable to them, since it is not cash that they can easily print, nor a currency they can easily manipulate, they have not seen a reason to adopt it to this extent because taxes will be a sure thing but taxes are ever enough for my amieble leaders.

[MainIbem]

Banks is the major problems of the financial crisis we are facing, not only us but the world entirely and you think we will buy the idea of investing in bitcoin through regulated banks, who does that? Nobody or rather no bitcoin investor will appreciate any form of regulation of cryptocurrency, let alone banks regulation being involved. We want to remain the way we are, we don't want any banks regulation. Bitcoin and banks are not even supposed to have anything is common because bitcoin is decentralised while Banks operate under centralized authority.

It's good that the banks are now making it easier to own Bitcoin, in the sense that people who can't use exchanges to purchase Bitcoin can do it directly from their bank at ease and that doesn't stop anyone from practicing self custody cause you can buy from the bank and send to a non custodial wallet except the person doesn't understand the proper way of storage and choose to leave it the wallet generated by the bank.

[CryptopreneurBrainboss]

Looking at this development we can see that the traditional financial system is final making room for Bitcoin all over the world, even in the African continent. As a country are we going to see something of

it was always a natter of time before things will begin to shift from being toxic to becoming friendly because they can't be opposing Bitcoin forever when Bitcoin isn't dying or going anywhere. They're begining to see that the best option is to adopt Bitcoin or stand on the sidelines and miss out that's why it seems they're all turning positive towards Bitcoin now. My school of thought has always been that the government would've killed Bitcoin sincere if they could do it but because they don't have the power to do so that's why Bitcoin has survived so far and kudos to Bitcoin too because with the way it was built and it's community I don't think anything can happen to the currency. The adoption is coming and no matter how slow it comes, we'll be waiting because it's an inevitable thing to happen, they  just have to accept this and open their hands to embrace Bitcoin.

[Xackie]

Buying bitcoin through the banks has no difference from buying front centralised platform like exchanges. Now they are going have control over your bitcoin and could somehow seize or freeze your asset under some certain circumstances.  The purpose of bitcoin is for the users to have complete control over their money without depending on any third party system. This also comes with a benefits though, I mean it could expose many Nigerians into the financial world and more adoptions. Just like the ones we can see with Dangotes ipo being advertised by local banks and has made lots of Nigerians to invest in it. Or if they could be way where you buy it from the bank and they will automatically transfer it to the personal wallet you created yourself.  That will be better.

[Josefjix]

There was a time Nigerian bank was accepting buying Bitcoin from debit card on Luno Bitcoin app, I used it around 2018 then. Since it's had been operating before, it's a little button for Nigerian government to enable so Bitcoin can be purchased from bank cards.

Institutional acceptance from the foreign government had been happening long time ago, just that Nigerian especially Africa always seems to ba backward around things.

Congratulations to the UAE citizens for been free while interacting with Bitcoin and Bank.

[Perfect-World]

Looking at this development we can see that the traditional financial system is final making room for Bitcoin all over the world, even in the African continent. As a country are we going to see something of

Every country just needs time, and gradually, Bitcoin will take it's full place. Though it's not going to be an easy access, because I feel some people ordinarily fear anything online or called crypto. People have seen so many crypto crash, some pump and dump. So that mentality of bit holding value after sometimes is still a problem. People have to know that there is a difference between Bitcoin and other crypto coins, only then can mote people appreciate Bitcoin the more.

Bitcoin is already going places, and it's just a matter of time, and it will go more places. There are adoptions the in so many places. The only problem it will have in terms of using it for a day to day trade is it's volatile. But understanding the real value of Bitcoin, people wouldn't be too afraid to Hold Bitcoin.

[Cookdata]

Is this all of a sudden? Or am I missing anything? I don't think there is a massive adoption rate with institutional bitcoin adoption with other countries concerned, will know that they have been more improvement but is not as noticeable as we think, which is why I see there is nothing sudden in this because so many countries have been considering for bitcoin adoption and making a friendly regulations to enable their citizens participate in using it, even though they are not adopting as a legal tender except for two countries that have done so, you cannot only deny the fact that there is a massive increase in adoption rate over the time but not all of a sudden.

You mean Bitcoin reserve, I will love to see this become a norm but it might be difficult to see. If US does not do this, I don't think any developed countries will do that because of fear of interest and relationship. The IMF earned El Salvador to limit their Bitcoin exposure, that's part of their agreement when they gave them loan. We know the country that funds IMF, the same country whose president tricked everyone he was going to legalize Bitcoin, they are about to complete their tenure and nothing yet.

May be not today, but one day, Bitcoin will get the adoption deserve, it's the day I'm not sure about. The governments are to difficult to predict. I never even for one expected Trump to change his stance on Bitcoin but he did because of his interest. Perhaps we will later get that Bitcoin status if he needs another way the Whitehouse.

[Joy- maker]

I'm not surprised that most Banks are allowing their customers to buy Bitcoin directly from them. To some people it's more like a welcome development, but that's b*******.  What made them change their minds about Bitcoin? I thought Bitcoin was a scam, a tool for criminals and something that had no real value. I'm curious to to know what changed, is Bitcoin suddenly legitimate, or did they finally realized that they couldn't no longer afford to ignore it? What a turnaround.

[Sammysmart001]

The IMF earned El Salvador to limit their Bitcoin exposure, that's part of their agreement when they gave them loan.

IMF pushing EL Salvador shows us just how traditional banks use debt to control countries. They aren’t liking Bitcoin because they can’t control it.

And about politicians changing their mind just for votes you are actually right, but might actually be of help for us. Cause once a big country starts to buy Bitcoin as a reserve you will see that others too will be forced to do the same so that they shouldn’t miss out. Even if they will speak against it oh publicly just to please the IMF. They will surely by it secretly, so they shouldn’t be left out.

[Crypto_Timothy]

As a country are we going to see something of

Nigeria is currently in a funny state right now but the idea is good but simply just looking at where the country is right now. Obviously with time and as adoption continues, we will see policies that will favour Bitcoin in Nigeria and for countries who are taking initiatives, i mean thats how they developed in the first place, simply by taking initiatives and seeking opportunities to better the lives of the public and if alone our leaders will do the same, because i dont believe they are ready to take that initiative just yet.
The more these countries adapt and develop, the more they leave us behind, although online we can can still do our thing but i know for certain, they are some services that are restrictive in some way to Nigerians, all these things come from the negative mindset the government has shown over the years.

[BITBI-4]

As a country are we going to see something of

Nigeria is currently in a funny state right now but the idea is good but simply just looking at where the country is right now. Obviously with time and as adoption continues, we will see policies that will favour Bitcoin in Nigeria and for countries who are taking initiatives, i mean thats how they developed in the first place, simply by taking initiatives and seeking opportunities to better the lives of the public and if alone our leaders will do the same, because i dont believe they are ready to take that initiative just yet.
The more these countries adapt and develop, the more they leave us behind, although online we can can still do our thing but i know for certain, they are some services that are restrictive in some way to Nigerians, all these things come from the negative mindset the government has shown over the years.

You are right. The issue isn't so much technology as it is the mindsets of the policy makers. While the rest of the world is using new technologies and innovations like Bitcoin to boost its economy but our government is still living in fear and working with bureaucratic cumbersomeness. Even though some work can be done online through alternative means it is really disappointing to lag behind the global mainstream in this way. In the absence of the right initiative and policy at the right time it will not be possible to keep up with the world and it is the common youth and entrepreneurs of the country who will bear the brunt of that.

[Sunshine1525]

Looking at this development we can see that the traditional financial system is final making room for Bitcoin all over the world, even in the African continent. As a country are we going to see something of

it was always a natter of time before things will begin to shift from being toxic to becoming friendly because they can't be opposing Bitcoin forever when Bitcoin isn't dying or going anywhere. They're begining to see that the best option is to adopt Bitcoin or stand on the sidelines and miss out that's why it seems they're all turning positive towards Bitcoin now. My school of thought has always been that the government would've killed Bitcoin sincere if they could do it but because they don't have the power to do so that's why Bitcoin has survived so far and kudos to Bitcoin too because with the way it was built and it's community I don't think anything can happen to the currency. The adoption is coming and no matter how slow it comes, we'll be waiting because it's an inevitable thing to happen, they  just have to accept this and open their hands to embrace Bitcoin.

There's this saying that "if you can't beat them, join them" that's what going on with the adoption of Bitcoin by institutions and government especially. Bitcoin has features they can't overlook which is why several governments had to adopt it as they can't do anything to control or end it totally.Afterall who no like better thing.

I give kudos to Satoshi for coming up with something that even the government can't destroy and i hope that it's remains that way so Bitcoin doesn't end up like fiat. With how valuable Bitcoin has become if it continues to gain more value it would definitely increase the pace of the adoption process.

[Olatundespo]

When you think about it you'll see that banks that did everything to distance themselves from crypto are now looking for ways to give their customers access to Bitcoin, you can't help but ask, why the sudden change?
If more institutions follow, buying, holding and using Bitcoin could be come easier, and public confidence in it will eventually grow.

Government restrictions are not working. Bitcoin adoption is increasing worldwide. The number of cryptocurrency users worldwide has reached 559 million, which is 9.9% of the total number of internet users worldwide, and this number has increased by 33% in the last 3 years. If governments take a stand against the growing demand, they will not be able to restrain the majority of users. Even if they do not take a direct position in favor of cryptocurrency, the government's position will gradually become clear strategically.

Source: https://paybis.com/blog/crypto-adoption-statistics/

[Mehmet69]

Standard Chattered has joined the trend, becoming the first international bank in the UAE to offer Bitcoin trading directly through eligible clients bank account i.e you can now buy Bitcoin directly from your bank in the UAE.
This move is more than just a banking announcement, it goes on to show that steadily, Bitcoin is begin to find its place within the traditional financial system.

When you think about it you'll see that banks that did everything to distance themselves from crypto are now looking for ways to give their customers access to Bitcoin, you can't help but ask, why the sudden change?
If more institutions follow, buying, holding and using Bitcoin could be come easier, and public confidence in it will eventually grow.

For our beloved Naija, this raises an important question; With inflation, the depreciating Naira, and growing need to explore alternative means to preserve wealth, could easier access to Bitcoin through regulated banks change how Nigerians invest and save?
Off course easier access to Bitcoin doesn't mean it would solve all our money problems, or guarantee profits. Bitcoin remains volatile,candy proper regulation and protection is essential.
Looking at this development we can see that the traditional financial system is final making room for Bitcoin all over the world, even in the African continent. As a country are we going to see something of

The reason for this change may be different. Due to the poor state of the world economy, people have started giving more priority to digital currencies than fiat currencies. Which has become difficult for the government of a country to control. Bitcoin is a decentralized system that cannot be controlled by any government or organization. various banks and governments are also gradually trying to take control of this financial freedom. This seems to be somewhat beneficial for people at first, but it is difficult to imagine what its impact may be in the future. So I think legalizing Bitcoin in a country or going under the government may cause problems for users.

[SDS11]

Standard Chattered has joined the trend, becoming the first international bank in the UAE to offer Bitcoin trading directly through eligible clients bank account i.e you can now buy Bitcoin directly from your bank in the UAE.

This move is more than just a banking announcement, it goes on to show that steadily, Bitcoin is begin to find its place within the traditional financial system.

When you think about it you'll see that banks that did everything to distance themselves from crypto are now looking for ways to give their customers access to Bitcoin, you can't help but ask, why the sudden change?
If more institutions follow, buying, holding and using Bitcoin could be come easier, and public confidence in it will eventually grow.

For our beloved Naija, this raises an important question; With inflation, the depreciating Naira, and growing need to explore alternative means to preserve wealth, could easier access to Bitcoin through regulated banks change how Nigerians invest and save?

Off course easier access to Bitcoin doesn't mean it would solve all our money problems, or guarantee profits. Bitcoin remains volatile,candy proper regulation and protection is essential.

Looking at this development we can see that the traditional financial system is final making room for Bitcoin all over the world, even in the African continent. As a country are we going to see something of

 This Standard Chartered move in UAE is a clear sign that traditional finance is no longer fighting Bitcoin, they are joining it.

Banks have realized they cannot stop it, so they have to offer it. Customers are already asking for it.

If this spreads to more countries, it will make Bitcoin easier and safer for normal people to use, because buying from a trusted bank is better than using unknown platforms.

For Nigeria, I hope we get to that level soon. It would help a lot with financial inclusion and give people a regulated way to hedge against inflation, even though the volatility is still there.

[BluebloodCXVI]

Let’s not be quick to blame this banks for distancing themselves from bitcoin and crypto related stuffs without considering the regulatory environment that they operate in.

We all know that banks are more like businesses, and their operations are definitely influenced by government policies and financial regulations.
Now if this regulations make offering Bitcoin services to customers difficult or risky, we can’t just expect them to ignore those restrictions because at the end of the day the government still has an upper hand on these traditional banks and it is what they say that the banks must do.

Also, i don’t see this Standard chartered bank UAE development as a relevant thing, they probably see it as another business opportunity to make some money and it doesn’t even guarantee that other Nigerian banks will follow suit or suddenly embrace bitcoin, so what’s all the fuss about?