CHANGING THE CHANGER

Great news all !!!
Last week, the UK announced that her treasury was set to legalize stablecoin. The economic secretary announced that the stablecoin will be brought into the UK payment regulation. That was the least I ever thought to hear, especially at the moment given the crises of Terra’s UST depeg.
Few days ago, the Nigeria’s Security and Exchange Commission, SEC classified Bitcoin and other cryptocurrencies as digital assets that would be traded and regulated by the exchange. While the Central bank of Nigeria’s regulation against crypto currency can still be said to linger, the tensed atmosphere is now undoubtedly very much relaxed.
Surprisingly, Nigeria was among the countries that went for the El-Savador’s Bitcoin meeting that was being attended by 43 other countries across the globe. Most Central banks and financial institutions attending the meeting are from Africa, South America and South Asia. They are to discuss financial inclusion, digital economy, banking the unbanked, the Bitcoin rollout and its benefit to the countries. Governments around the world are getting more interested in taking action than ever before. What a great turn-around!
One could have wondered what changed? I guess this is an indication of gradual conviction and acceptance of the crypto and all the goods that comes with it.