Governments and Crypto. Match made in heaven or imminent battle to the death?

(Taken from our daily Patreon members post on June 30th 2021)

A quiet day for trading but there are always interesting things going on in the market at the moment. One thing to ponder for the future is how government and crypto will combine. They will either be in constant turmoil or they will merge in some way.

Today we are going to mention CBDC’s (again). If you’ve been with us a little while you’ll have heard of these before and have a rough idea of what we are talking about. If not then very basically speaking a CBDC is a Central Bank Digital Currency. It’s the government creating their own crypto asset.

It is happening already in some countries like China who are unsurprisingly wanting to keep their own people using their own stuff at every opportunity.

Now other countries are catching up just at a slightly slower pace. The UK has a team looking into it but the US are making moves now and announcing plans soon! The US version will allegedly be named the ‘Digital Dollar’ or unofficially ‘Fed Coin’. Take a look at this video from a friend of Crypto Wallet Spy (he doesn’t know that he is our friend) Andrei Jikh here.

He explains in great (whilst also being interesting) detail the upcoming CBDC in the US and what it means for banking, government and the people.

Have a great day in crypto and we will see you tomorrow for some interesting insights into the happenings in June.

“M”

*Update

Andrei has more recently released further content regarding CBDC’s in the US which can be found here.

We feel that CBDC’s are inevitable and exactly how they are introduced (and when) will have a huge impact on the crypto world. The introduction of the masses to crypto will sculpt the future for everyone and CBDC’s will likely be a huge part of that mass adoption.

Inside our Patreon group, every day, we post a full crypto wallet report showing the contents of influential wallets.

Join our mailing list and get a sneak peek of a real report.

Visit our Patreon page to find out more and join us.

Find us on Twitter @ cryptowalletspy