Kaja Kallas, Estonia’s Prime Minister, stated that the country should be cautious when using cryptocurrencies to support its economy. Kaja Kallas stated that Coinbase, one of the most prominent digital asset exchanges, had urged the government to legalize Bitcoin. Kallas is not “positive” about the situation at this time.
El Salvador’s Move Is Not on the Horizon
Kaja Kallas, Estonia’s newly elected Prime Minister, seems to be quite negative about cryptocurrencies. According to the Reform Party’s 44-year-old leader, digital assets are a major factor in ransomware and cyberattacks. The EU member is not ready to accept them at this point.
“We are sensitive about these issues, and cryptocurrency, how is it used, it’s big problem, because it’s easy for companies to pay [ransom] money and see the cyberattacks.”
Kallas also denied rumors that Estonia would become the first country in the European Union to regulate cryptocurrency. This could have been possible at the time her successor, who was a “big advocate of crypto,” but things are completely different with Kallas in charge.
El Salvador’s decision to legalize Bitcoin was not supported by the top politician. Kallas was asked if Estonia would follow the initiative.
“Ha! “Ha! “What I see in El Salvador does not seem to be going well.
The Prime Minister also revealed that Coinbase and other large cryptocurrency companies had pressured the Estonian government into legalizing Bitcoin as a payment method. Kallas is however hesitant to express optimism about this.
“Coinbase and the big Bitcoin and currency companies approached me and urged me to make it legal in Estonia. ”
Kaja Kallas, Source: Wikipedia
The EU and Government
Estonians believe in their authorities, unlike many other countries.
70% of locals prefer that their government set rules for cryptocurrency, while 30% trust the European Union. This statistic places Estonia second in Europe, with 76%, and the Netherlands first with 76%.
Notable is the fact that Estonians are increasingly in favor of national digital currencies to be able to achieve monetary independence from EU. With 39% of those supporting the initiative, Estonia is among the top three countries in this statistic. Italy (41%) and Greece (40% respectively are the leaders.
Marla Brooks – Financial Analysis
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