London Daily

Focus on the big picture.
Sunday, Aug 24, 2025

The Impact Of Cryptocurrency Adoption On Government

The Impact Of Cryptocurrency Adoption On Government

Cryptocurrency use is growing exponentially, and governments may want to consider the benefits. Why are blockchain and cryptocurrency so popular right now?

Why have business whales and finance execs invested large cash reserves into cryptocurrency? They hope to benefit from this colossal opportunity. Visual Capitalist, in an April 2021 article, remarks that Bitcoin, compared to other tech companies, is the fastest asset to reach a $1 Trillion market cap.


In March of 2020, Bitcoin's price was coming in at around $3K. As of May 11, 2021, Bitcoin was $56,551.44. Per coin. And Bitcoin is only one of over 4,000 cryptocurrencies according to Investopedia in a January 2021 article. This growing trend presents a new challenge for governments.

Cryptocurrency sits on top of a technology called blockchain. Blockchain is a database network that supports the transfer of value in a digital format. It is an independent system not owned by any institution, individual, bank, or entity, (read, government). As more cash moves into this crypto arena, governments will lose visibility and control of their national currency. How will that affect them?

The Government Blockchain Association, (GBA)?s Tax Working Group has written a Whitepaper entitled, 'The Impact of Cryptocurrency Adoption on Government'. This 138-page document is the result of a full year's worth of research and analysis, done by a team of authors with expertise in tax risk analysis, data, research analytics, cryptocurrency, digital assets, business, and blockchain. This report was not financed by any major corporation or interest group. The authors were all volunteers and were not influenced by a sponsor?s desired outcome. This paper was written to find an answer to a question.

How will this monumental transfer of fiat money into cryptocurrency affect governments and their citizens? Be assured, it will affect them, and the governments that understand this change can better prepare for what is coming.

The Impact of Cryptocurrency Adoption on Government whitepaper is available for download purchase.

Newsletter

Related Articles

0:00
0:00
Close
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
Finnish MP Dies by Suicide in Parliament Building
Outrage in the Tennis World After Jannik Sinner’s Withdrawal Storm
William and Kate Are Moving House – and the New Neighbors Were Evicted
Class Action Lawsuit Against Volkswagen: Steering Wheel Switches Cause Accidents
×