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Additionally, overlapping oversight by various agencies creates a structural barrier to change and drives up costs for creators of cryptocurrencies.
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The biggest advantages that cryptocurrencies offer the developing world are increased access to money, the improved ability to send or receive it, greater access to atms and digital wallets, and a huge increase in transparency, which is sorely missing in many countries.
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Cryptocurrencies are helping out developing countries in more ways than one. This improvised approach needs to be improved. Bitcoin can be viewed as an uncensorable form of money that can be sent by anyone to anywhere in the world. Cryptocurrencies may have started off as an outgrowth of the cypherpunk movement,. The fact that cryptocurrencies can be traded from anywhere in the world alleviates, to some extent, potential liquidity constraints that can arise if local governments restrict trading activities as part of a lockdown.
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