The crypto borrowing and lending platform Nexo recently provided transparency into exactly how its business makes money. Its lengthy breakdown follows the collapse of numerous high-profile crypto lending firms that were overexposed to defunct projects and businesses. Nexo’s Business Model As Nexo explained in a Twitter thread on Monday, Nexo’s primary business strategy is to facilitate collateralized credit. Its core services include crypto collateralized loans, interest-bearing crypto accounts, and spot, futures, and options trading. Through its Earn product (crypto interest…
A poll conducted by Newsweek showed that about 40% of voters in Texas state back-friendly regulations in the cryptocurrency industry. The exclusive statistics came from the London-based polling firm Redfield & Wilton Strategies.
The survey comes at a period when U.S. officials are discussing cryptocurrencies. The officials are talking about the merits and demerits of cryptocurrencies. They are also investigating potential solutions on the market.
The survey covered California, Florida, Pennsylvania, Georgia, North Carolina, Ohio, and Virginia. A Few U.S. states have even considered regulation. But some have progressed more than others. Approximately a third of voters in swing states want cryptocurrency legalized as a form of payment in their different states.
Leading in Comprehensive Regulation
Voters ranging from about 27% in Arizona to 37% in Texas and Wisconsin said they would vote “yes” to a ballot measure that would make cryptocurrency legal in the next election. Initially, Ohio had permitted the residents to pay their taxes in bitcoin. However, In 2019 the state suspended the system.
Wyoming is possibly the most advanced when it comes to regulation. The state has passed different laws as far back as 2018 and 2019. Wyoming’s senator Cynthia Lummis noted that she would like the state to guide the other states in legislation.
The state is actively seeking to lay the groundwork for comprehensive regulation. Texas State voters seem to want similar laws in their state. They believe they could benefit from job creation and financial security.
HODLers cited that high returns and personal interest motivate their investments in cryptos. About 25% of the voters were unsure whether to support or oppose crypto legal currencies.
Most said they would vote against a dollar-pegged cryptocurrency. The people said this when asked about their thoughts of the U.S. forming a national dollar-pegged cryptocurrency. 40% of the voter population in Arizona noted they would not vote in favor of such a bill. Out of the states on the list, only Georgia was divided, with 27% supporting the national digital currency. However, roughly 27% opposed it.
Crypto enthusiasts believe that the U.S. will soon release some initial regulatory framework if recent reports are anything to consider. The (SEC), U.S. Treasury, and the President’s Working Group actively work towards regulatory measures.