Recent Happenings in the Crypto Industry

The Crypto industry has taken the financial world by storm. People like talking about the rising trends. They are always keen to know the latest news and updates. Making projections and forecasts is not possible without having complete information about the industry trends. 

We’ve collected a few important cryptocurrency news updates that are worth knowing for every crypto lover. 

EL Salvador Passes New Law

El Salvador has become the first country to pass new legislation to take bitcoin as a legal tender. After the successful implementation of the law, people in the country will be able to use Bitcoin for the payment of taxes and products. 

This is a massive achievement as the most prominent cryptocurrency can be used by a common man. According to CNBC, organizations and companies will be able to value their products in bitcoin.

As per authentic sources, 62 out of 84 votes were in the favor of Bitcoin. That’s the reason why the Salvador Congress has approved a new law to make cryptocurrency prevalent.

Senator in the United States Asks for Crypto Regulation

Senator Elizabeth Warren requested proper regulation of cryptocurrency in the United States. She raised her voice during a hearing on digital currencies. 

According to the Senator, Crypto legislation is inevitable because the new currency has provided scammers with manifold opportunities to misuse the currency. It is necessary to tackle rising crypto issues in the country, Said the Senator.

Approval of Bitcoin Upgrade

Finally, approval for the first bitcoin upgrade in the last four years has been approved on Saturday. The update will take effect in November this year.

Authentic sources have confirmed that the new update will bring efficiency and privacy. Transactions will be more secure than before. There will be more attributes added to the currency. The complete details about the next bitcoin update have not been unveiled as of now.

Tesla to Accept Bitcoin Again

We all know that Elon Musk refused to accept bitcoin as a payment method. However, the car giant is again ready to receive bitcoin as payment. No one is sure why Elon is making changes to his policies time and again. However, it could be a financial strategy to increase the value of Bitcoin over the next few years. 

There’s no word on when the company will start accepting Bitcoin.  The CEO has made several explanations in this regard.