Why is the U.S. Government Cool with Bitcoin Now?
Last year decentralized currency was labeled a black market for money laundering. In Banking on Bitcoin, the opening scene shows Charlie Shrem, a founding member of the Bitcoin Foundation, wearing an ankle bracelet awaiting a two-year prison sentence. He was charged with aiding and abetting the operation of an unlicensed money-transmitting business, Silk Road.
What has changed in 2018? The prospect of having a fat tax payout is a reality for the U.S. government. They are beginning to regulate Bitcoin and popular trading platform Coinbase.
More platforms, more users, more taxes
It is an enviable position for the U.S. government to be in. They will benefit as more platforms support Bitcoin trading. Using the clout of Bitcoin to coerce new subscribers, Robinhood and Cash App have announced their crossover into crypto trading.
In just a week, Robinhood has received almost 1 million subscriber requests for Robinhood Crypto. Square Cash’s stock gained a 3% increase, the same day of the Bitcoin trading announcement. Using the words blockchain, Bitcoin, and cryptocurrency for PR has proven to be a success.
Why is Bitcoin getting this mainstream push in 2018? How does this advancement correlate with recent government interventions?
Source: ICO Alert
