Which Countries Are The Crypto Trendsetters?

It’s often said that crypto is unlike any fiat currency because – unlike those government-backed currencies – cryptocurrency is global. Of course, this is unmistakably true. Crypto transcends geographic concerns because it doesn’t have a national interest. However, anyone who knows how economics really works also knows that trends are unavoidably influenced by international actions. The result of this is that there are some countries in this world that are trendsetters, and when it comes to an asset like crypto they may not be making the decisions on where things go, but their moves will have more influence.

This being the case, what countries does it make sense to be following closely if you want to know how crypto will behave in the near and long-term futures?

USA

The USA is the largest economy in the world by GDP, and it’s often said that if America sneezes, everyone else catches a cold. That may be becoming less true in the case of nations like China, but America can still drive sentiment by merely suggesting that it will take action. Noises have been made in Washington about regulating crypto and looking at ways to harness its potential for more than betting at casinos much like these sites. What that regulation looks like will inevitably affect how crypto is traded.

China

Some may argue that China has left the field open by banning all crypto transactions within the country, but in finance, negative action or even inaction can be a way of wielding influence. As the counterpoint to America in so many ways, China’s actions on crypto will, and do, influence how people view and trade the coins.
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Additionally, China’s efforts to build soft power in recent years mean that it can impact how crypto is treated in other countries, particularly emerging markets in Africa.

Germany

While the UK is traditionally a nation of influence, it is no longer Europe’s financial center, and that honor has transferred to Germany. German banks and financial institutions are certainly interested in crypto, and while the overall mood towards Bitcoin and other assets is skeptical, it is now being accepted more widely. Considering Germany’s geographic proximity to crypto-positive Switzerland, it will be interesting to see how things go under its relatively youthful center-left coalition.