The Republic of the Marshall Islands will release its own cryptocurrency complete with an ICO and free trading (sovereign), according to two government officials. The sovereign aims to be issued via an initial coin offering subject to final approvals.
This comes at a time when the cyptocurrency technology wave is slowly sweeping the world in surprise with a tremendous growth in both value and popularity of cryptocurrencies which can no longer be referred to as just a passing trend.
With the levels of growth that have been experienced in the industry, many countries have come out boldly in expression of interest to regulate the crypto-space tech world owing to huge investments from its much anticipated benefits.
Crypocurrencies are slowly gaining importance in the war against terror financing and money laundering because it guarantees security and trust. Cryptocurrency ICOs have also become the leading crowdfunding methods being used by startups to raise capital for their projects
Austria for instance is amongst the countries that have put in place plans to regulate cryptocurrencies and aims to use a model of existing rules (regarding market manipulations) to trade gold and derivatives and also cover Initial coin offerings.
With the price of Bitcoins going over and beyond $10,000, the digital currencies are gaining more and more transactions daily with more countries placing bets on the expected returns owing to the trends exhibited by the market
China had also been reported to be doing trial runs of its own cryptocurrency. It intended to use blockchians to monitor transactions and how the country’s money supply was growing. China also in its reports, it intended to replace the technology with paper tenders
The most interesting entrants into the crypto-space are expected to be Japan, with an expected launch in Tokyo Olympics in the year 2020. The j coin will be used to pay for goods and transfer of money using smartphones
The government’s attitudes towards cryptocurrencies have not only been limited to bitcoins alone, however many Governments have gone beyond and above to try and incorporate other aspects in the crypto-space technology that may look beneficial to the projects intended.