Will China to dominate cryptocurrency market?

Will China to dominate cryptocurrency market?

 

Will China to dominate cryptocurrency market?


El Salvador in Central America is the first country to adopt bitcoin as a legal tender, but very soon the nation may not be the only one adopting cryptocurrency as a way to transact money. In future reports say: china is working on having or adopting a digital cryptocurrency of its own, and it is perhaps why it is cracking down on all kinds of cryptocurrencies and their transactions.

  China already experimented With a digital one that met with limited success, but analysts say China is possibly working on the world's largest cryptocurrency project and, like other markets, it wants to dominate cryptocurrency markets as well. On the other hand, a growing number of el Salvadorians have experimented with bitcoin, since the country became for us to adopt it as legal tender last month, with a couple of million dollars sent daily by migrants using cryptocurrency, but only a fraction of central American nations. Businesses have taken a bitcoin payment and technical problems have plagued governments by some measures. Adoption in the poor country, where one-fifth of families depend on remittances. It has been a rapid one month since launch just twelve percent of consumers. They use cryptocurrency Salvadorian foundation for economic and social development has reported it