Whale Fall aims to achieve true decentralization through autonomous circulation and growth of the ecosystem by forming an economy where there are no whales that threaten the ecosystem through large-scale community activities. It is operated with mechanisms such as Self-liquidity Supply, WHALE Burn, and Whale Lock-up.
The President of the Republic El Salvador is the first president in the world to show such high-level support for cryptocurrencies. He will soon make Bitcoin legal in his country. Even then, crypto users in El Salvador may need to be careful with their personal data.
Iran has long been known as a crypto-friendly nation, but in the recent past it has changed its view towards this emerging industry. Currently, authorities in Iran are in the process of arresting bitcoin and cryptocurrency miners on a large scale. The move is a threat to the entire cryptocurrency industry as it cripples its planned growth.
Ever since the first cryptocurrency, Bitcoin, was invented, cases of money laundering have been on a high rise almost every year. Now, China and India are battling with money laundering cases that are a threat to their economy and the finance industry at large.
The outbreak of COVID-19 has led to a significant decline in economic growth. The recent economic challenge is associated with inflation that was triggered by governments printing more money to offset the negative impacts of the pandemic. Probably, this is the reason for such striking interest in the crypto market as it is inflation-friendly.
Capitol Hill is at the moment heated over the historic $6 trillion budget for 2022 that new US President Joe Biden proposed. Although this would be the highest federal spending since World War II, it could drag more people into the crypto world.
China is accelerating its pursuit of a digital yuan that is anticipated to be finally rolled out before the end of 2021. One of the reasons to issue its own central bank digital currency (CBDC) is to keep a close eye on and control the transactions of the citizens.