Many types of rules & regulations are acting as crypto interest degradation catalysts in the non-crypto industry and newcomers of this innovative industry.
Crypto adoption is surging rapidly among retail investors despite huge volatility in the price of crypto assets but adoption is not surging fastly among the big players like retail adoption, thanks to the government policies on the Crypto & blockchain industry.
At present, many big celebrities are trying to accept payments in Bitcoin under the partnership sponsor program with crypto companies. However, it is not a tough thing for crypto companies to establish partnerships with any high-level personalities like sports players or actors to accept payments in Bitcoin but it is a very tedious thing for celebrities to accept payments in Bitcoin because of the several policies on Bitcoin salary.
We can take the example of Francis Ngannou, UFC heavyweight champion, who announced via his Twitter account that he will accept payment in Bitcoin for his performance.
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Been talking with my family and friends in the crypto space. #Bitcoin is huge in Africa and I’m thinking of taking half my fight purse in it. Bitcoin is the future and I’m a believer
@ufc #ufc270
— Francis Ngannou (@francis_ngannou) January 14, 2022
Later after receiving the salary in Bitcoin, he noted that he received half of what he was promised. Later some experts explained that tax, process transaction fees & dump in Bitcoin price affected the Bitcoin salary badly.
However, these things are disappointing things for newcomers, who want to promote Bitcoin adoption but here companies needed to improve their system of Bitcoin payment systems, instead to criticize government policies.
Bitcoin or crypto promoters companies should reserve the salary fund in advance and after that, they should buy & pay in Bitcoin. So in this way volatility will not impact the mentality of Bitcoin payment adopters.
In the present time, there are many countries where buying & selling cryptocurrencies bear the huge crypto tax, and also in some countries, there are rules to pay tax on holding Bitcoin. Probably these types of policies are degrading the interest of crypto Investors.
Read also: Is Cardano a failed crypto project?
Strict crypto holding & receiving policies are degrading interest: Report
https://bitcoinik.com/strict-crypto-holding-receiving-policies-are-degrading-interest-report/feed/
https://bitcoinik.com/strict-crypto-holding-receiving-policies-are-degrading-interest-report/feed/
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