The year 2021 presented itself with tons of opportunities for the crypto and blockchain industry. And now, it's already Thanksgiving! Since the holiday season allows us to stop, think, and be grateful for the past achievements, we have decided to be grateful for the crypto developments that took this year, since it has opened the industry to an ocean of opportunities. These crypto developments have highlighted the significant milestones defining the growth of the crypto economy and the record surge of digital assets.
PayPal allowing crypto functionality: PayPal announced that its US-based users can now buy, sell, hold, and checkout with cryptocurrencies, using their PayPal personal or premier accounts. At the moment, the platform is allowing bitcoin, ether, litecoin, and bitcoin stash. Presently, this feature is not available to business accounts but might extend to it in the future.
El Salvador chose BTC as legal tender: A few months ago, El Salvador made bitcoin its legal tender to allow digital currencies to become a part of the economic infrastructure of the country. Profits from these bitcoin holdings will be invested to create bitcoin cities, schools, and pet hospitals.
Formation of Crypto Council for Innovation:The Crypto Council for Innovation was launched in April 2021. It is a global alliance of crypto industry leaders with a vision to demonstrate the revolutionary promise to communicate the benefits of using crypto to policymakers and the people around the world. The council believes that the crypto ecosystem will only flourish if the regulators wholly understand it.
NFTs have gone mainstream: Even four years back, NFTs were just a concept. Now, an endless array of brands has embraced NFTs. They are distributed for free with burgers in fast-food chains and handed out on online purchases. Digital artists have found success overnight after the emergence of NFTs in the mainstream crypto market.
Morgan Stanley's offer on bitcoin funds: Investment bank, Morgan Stanley, offered its wealth management clients access to bitcoin funds. The move is very significant for the acceptance of bitcoin as an asset class.
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