BANKING
regulated insurance products for the crypto market . The company ’ s Crypto Shield product is available for more than 20 cryptocurrencies and for consumers using Binance US , Coinbase , CoinList , and Gemini . It is also backed by a premier insurance carrier and reinsured by a global crypto insurance industry leader .
Co-founder Eyhab Aejaz explains : “ We don ' t opine on whether crypto is a security , a currency , something more like gold , or whether it ' s property . Our position is that it ' s a thing that people choose to buy and own . It ' s not illegal because governments tax you on it . Last time I checked , they don ' t tax you on drugs or something more illicit . So , it ' s undefined , but it ' s something that people have an appreciation for – so much so that they choose to put part of their wealth into it .”
More countries are adopting crypto There are still lots of countries globally that don ’ t tolerate the use of cryptocurrency . But this is slowly changing . For example , according to the
Thomson Reuters Cryptos Report Compendium of 2022 , crypto is now far more widely accepted globally than it once was . Only a smattering of nations remain closed to it . For example , the Bolivian government banned cryptocurrencies in 2014 , believing it would instigate economic instability and tax evasion . “ It is illegal to use any kind of currency that is not issued and controlled by a government or an authorised entity ,” Bolivia ’ s central bank ( BCB ) said .
44 November 2022