Bitcoin Back Over $40K as More Countries Embrace Crypto

Bitcoin Back Over $40K as More Countries Embrace Crypto

by Ras Vasilisin
29. April 2022
Bitcoin Back Over $40K as More Countries Embrace Crypto

Bitcoin (BTC) popped back above $40,000 on Thursday, climbing alongside U.S. stocks as fresh signs emerged of accumulation by investors and greater adoption by nations from Africa to Central and South America.

As of press time the largest cryptocurrency by market value was up 3.2% in the past 24 hours, changing hands at $40,206.

  • “Bitcoin remains in a fairly tight range despite a slew of positive news on the asset such as potential sovereign adoption in Africa, Cuba’s allowing licensed exchanges and Mexico’s gradual move towards greater adoption generally,” said Jason Deane, market analyst at Quantum Economics.
  • The Central African Republic has recently become the second nation in the world to adopt bitcoin as legal tender.
  • The Central Bank of Cuba (BCC) announced that it will issue licenses for virtual asset service providers. The license will be available to individuals or organizations both Cuban and foreign.
  • The Panamanian Legislative Assembly passed a bill regulating crypto. “This will help Panama become a hub of innovation and technology in Latin America,” Congressman Gabriel Silva said.
  • Brazil also passed a law on Wednesday to regulate cryptocurrencies. “The bill aims at creating a regulatory framework for the country’s crypto industry,” wrote Business Today.

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