Bitcoin Trading: Current State in the U.S.A

18/03/2014 11:58

Today, bitcoin is being increasingly popular all over the world. In the USA, like in the case of other countries, it has taken its toll and has gained the confidence of many people. However, there are still people in the U.S who are not familiar with bitcoin trading. This is a natural occurrence for anything that is relatively new, especially considering that bitcoin is targeting a huge market and it has been introduced only in 2009. The upward trend in the price of bitcoin is indicative of being more attractive in the eyes of the public.

To be able to have a well-informed snapshot of bitcoin trading in the United States, it is important to take a look at where the government stands. There have been reports in the past claiming that the government is now actively seeking for reforms that will be able to address the concerns with regards to bitcoin, following the tax guidelines on bitcoins that have been set by countries like Canada, Germany, and Singapore, among others. This means that the US government is already recognizing the fact that this digital currency will be a vital part of the economy and that the government must act to make sure of the welfare of those who will be trading such instrument. Those who are in the Congress and the different agencies of the government are being constantly reminded that this technology will soon redefine the national economy and that it is better to act upon it sooner than later.

Aside from the government, different banks in the country are also recognizing bitcoin through some of the statements that they have released. For instance, the Bank of America has been once caught saying that bitcoin will become the future currency of e-commerce trading. The research that has been published by the latter showed that bitcoin is accepted to be a competitor to traditional money transfer providers. With this recognition from a major bank, it is apparent that there is indeed a bright future for bitcoin To add, it has been noted as well that the future will include having bitcoin ATMs that will make it a snap to transfer such currency to other users.

However, one thing that makes it difficult to achieve the legal status of bitcoin in the US is that there are 50 different jurisdictions. The states can impose varying rules of acceptance. This will make it harder to have an accurate description of how is bitcoin being currently treated in the country. However, if there is one thing that is sure, it would have been the fact that it is being recognized now by more people. Even for the sake of curiosity, some have purchased a fraction of the currency. In spite of its current volatility, there are still many who placed their trust in such, with high hopes that they will not be frustrated.