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The Vault
Aug. 30, 2022
Is the United States Falling Behind the Future of Cryptocurrency?
* Brianna Drayton, a 2022 summer associate at Nelson Mullins, co-authored this publication.
This article discusses whether it is time for the U.S. government to rethink its position and speed up adoption of cryptocurrency as an official currency. The authors point out that investment in digital assets in the U.S. continues at increasing levels, particularly in e-commerce and retail spaces, while government action remains slow.
“Though the U.S. dollar remains king, U.S. agencies have been late in adapting to an increasingly digital financial system compared to countries like El Salvador and the Central African Republic, which have adopted Bitcoin as official currency,” the authors wrote.
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