Supporters argue that crypto offers greater financial freedom. It can reduce fees, speed up cross-border payments, and provide access to banking services for the unbanked. Some see it as a hedge against inflation, especially in countries with unstable currencies.
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However, the crypto market is also highly volatile and unregulated. Prices can swing wildly based on speculation, hype, or regulation news. Scams, hacks, and “rug pulls” are common, costing investors billions. The environmental impact of crypto mining — particularly with Bitcoin — has also drawn criticism.
Governments are divided on how to handle cryptocurrency. Some embrace it, hoping to become tech and financial hubs. Others ban or heavily restrict it, fearing it enables crime, tax evasion, or loss of monetary control. Meanwhile, central banks are exploring CBDCs (Central Bank Digital Currencies) as a regulated alternative.
