Too Long; Didn't Read
Cryptocurrencies offer the promise of a financial system free from centralized authority and third-party control. The idea of cryptographically secure transactions that put the control of your assets in your hands is not a recent one, but it was fairly unexplored before the advent of bitcoin in 2009 (and even less popularly before e-cash in 1983). However, the meteoric rise of crypto prices towards the end of 2017, followed by a sharp fall next year, has renewed the global focus on these digital assets. Governments and financial authorities that were earlier dismissive of this “fad” are now having to sit up and take notice. And in the apprehension of this new asset class that was born out of notions of crypto-anarchism, many official bodies have gone the downward spiral of <a href="https://www.forbes.com/sites/laurencoleman/2017/12/17/why-the-massive-fears-around-cryptocurrency-will-rise-and-whats-next-for-2018/#4d3086a4742d" target="_blank"><em>fear</em></a>, <a href="https://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil/" target="_blank"><em>evil</em></a>, <a href="https://bcfocus.com/news/others/chinese-police-stop-a-major-blockchain-event/6148/" target="_blank"><em>control</em></a><em>, </em>and <a href="https://www.reuters.com/article/us-crypto-currencies-iran/iran-central-bank-bans-cryptocurrency-dealings-idUSKBN1HT0YN" target="_blank"><em>attack</em></a>. But as knowledge and awareness of cryptocurrencies gain ground, several forward-thinking nations and states have gone ahead with <a href="https://www.reuters.com/article/us-japan-cryptocurrency/japan-grants-cryptocurrency-industry-self-regulatory-status-idUSKCN1MY10W" target="_blank">positive regulations</a> as well.