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The Federal Government has not had a big stance on Bitcoin and other cryptocurrency coins in the market. They took more of a hands off approach allowing the market to dictate itself. The Feds treated crypto like any other stock or commodity and have proposed taxing it as Capital Gains. Since the growth of Bitcoin and other cryptocurrency coins to a market cap of over $1 Trillion Dollars, the Federal Government has taken cryptocurrency a bit more seriously and is rumored to potentially offer their own coin called, Fedcoin. What is Fedcoin and what are the rumors surrounding the governments own cryptocurrency coin? Well, first we must consider that technology is moving at a super fast pace and printing green dollars is not something that may happen in the future.
Cryptocurrency is easier to track if there is a digital fingerprint, allows for faster transactions, and the government controlling their own cryptocurrency and possibly doing away with printing of green cash may solve several problems including inflation as well as illegal activities that are driven by cash only transactions. Fedcoin can also be easily distributed and will allow the central banking system to possibly take advantage of cryptocurrency as well.
With Fedcoin possibly being released what will it do to Bitcoin and Cash? Find out in this video and comment below.
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#fedcoin #cryptocurrency #finance
