The year of 2020 will bring some important surprises on the digital market, influencing the evolution of cryptocurrencies. The main element that could cause a storm on the cryptocurrency market is Libra, a stable-coin backed assets that has been announced by Facebook in early 2019, although it will not be available until at least the end of 2020, when it is expected to remove the necessary regulatory hurdles.
In any case, there are still a lot of uncertainties about the new stable-coin, which relies on the work of Uber, Vodafone, Coinbase and even a member of the Kushner family. Some of these uncertainties will cause other major players, such as Mastercard, eBay and Paypal Holdings, to become actively involved in the cryptocurrency market.
Of course, the issue of entering the cryptocurrency market as players is ultimately a major challenge in the cryptocurrency market. 2019 has generated a growing awareness from federal agencies that cryptocurrency (and blockchain technology in general) is starting to become less of a component of society and more of its core element.
The US Federal Reserve has revealed that the US Central Bank is dealing with a potential digital analogue based on the US currency.
Meanwhile, the Internal Revenue Service has strengthened its actions on reporting cryptocurrency transactions for the next fiscal season.
This need for innovation has been an obvious trend in the main areas of the cryptocurrency market, and innovations will also appear in 2020. The pound itself is (or has been) supported by members of various fintech companies. Meanwhile, fintech giants such as Plaid and Chime have achieved their ratings largely from investments made by financial industry companies such as Visa and Goldman Sachs Group, which are interested in digital assets but are horrified by the uncertainty surrounding them.
In 2020, it will be seen how traditional banks will manage the management of cryptocurrencies. Germany and the Netherlands are at the forefront of the states that have prepared for this step. In 2020, international legislative changes will increase the role of stablecoins, compared to traditional cryptocurrencies.
At the same time, the authorities began to destroy the anonymization characteristic of cryptocurrency-related activities, developed new systems for charging and verifying the legality of transactions. Virtual criminals are not expected to stand idly by either, so the involvement of organized crime in the cryptocurrency market will be growing. Obviously, the methods of evasion will be different, so an interesting year is announced.
The general idea is that the year 2020 will be a time of progress or setback for cryptocurrencies. Either the cryptocurrencies will start to prove their worth, or they will start to disappear.
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nice post, but i think mass adoption is still several years away