Digital currencies have been becoming increasingly popular worldwide thanks to their undeniable advantages: privacy, transparency, and accessibility. More and more people choose to use crypto and enjoy the benefits of decentralization. Meanwhile, governments are wary of digital assets as they see them as a potential rival to the national economy. That’s why many countries attempt to regulate cryptos or even ban them altogether.
However, there are cases when even governments acknowledge that digital currencies will be beneficial to them – this usually happens when a country’s economy collapses. For example, a drop in the value of a national fiat currency naturally increases the demand for crypto in this state. In this case, state authorities might react in different ways, from banning to legalizing digital assets. Let’s review some of the most prominent cases of this happening.
