Since the advent of cryptocurrency, the digital payment world has become very diverse. New forms of digital currencies are being developed every now and then. One of the latest developments include social tokens, a form of digital assets that are backed by the reputation of the community, the creator, an individual or a brand.
The anonymity of cryptocurrency transactions has been a pain in the neck of most financial regulators. Countries are strengthening their regulation to track those wishing to use digital currencies for illegal purposes. However, the community players are constantly seeking ways to preserve their privacy.
The Swiss parliament has passed new amendments to the country’s blockchain and cryptocurrency regulations. The new framework is aimed at boosting the Swiss community and confirming the country’s status of Crypto Nation.
Despite people tend to trust traditional finance and banking more than their innovative alternatives, global giants prove they are not as reliable as it seems. As giant banks get themselves exposed to nefarious activity, people start exploring innovations like cryptocurrency, thus building trust in this kind of assets.
The interest in cryptocurrency seems to grow as new people join the community. Compared to other communities, the cryptocurrency ecosystem is a relatively nascent community because the first cryptoasset was launched in January 2009, meaning that it is just over one decade into existence.
The financial technology (fintech) industry has seen a significant boost in terms of innovations. The most important technology is considered to be blockchain. However, some community players doubt that this tech is actually the saturation point of fintech.
The cryptocurrency community was very enthusiastic about the appointment of Crypto Mom Hester Pierce as a SEC Commissioner again. She is known for her continuous support to the blockchain and cryptocurrency industry.