✍🏾IN November 2023 microstrategy , the largest corprate holder of bitcoin, signifiacntly increased its bitcoin holdings by purchasing  approximately 16,130 BTC for around $608 million.  this  acquistion,executed at an average price of about $36 ,785 per coin ,marks a more than 10% increase in the firm's bitcoin assets,now totalling 174,530 BTC.Image credit : tradingeconomics🤝🏾Bitcoin users do not need banks or money processors to send and receive money worldwide. Bitcoin's decentralized network enables the unbanked people to bypass government and regulatory restrictions, hence, greater convenience in financial transactionsCryptocurrency has the potential to bridge the gap between the unbanked population and financial services. Additionally, it enables individuals in developing countries to access financial transactions and services through the use of mobile devices, without relying on traditional banking infrastructure.According to data from the World Bank, there are an estimated 1.4bn unbanked people worldwide in 2023.As the use of cash diminishes and digital payments increase, many unbanked people with access to mobile technology have instead opted to explore the offerings provided by cryptocurrency and the DeFi space.There is limited data on the interest of unbanked individuals in cryptocurrency. However, some reports suggest that digital currencies already play a significant role in financial inclusion for the unbanked, as there’s no requirement to have an active bank account and can be accessed through a mobile phone.The reasons for this are multifold, with experts citing limited financial literacy, lack of proper documentation, high costs of financial services, lack of trust in financial institutions, and limited financial infrastructure in certain areas. Additionally, marginalised populations may face discrimination or exclusion from the formal financial sector.The DeFi space – alongside its democratised platforms and numerous currency options – has, therefore, begun to provide an alternative finance space for people disenfranchised with, and unable to participate in, traditional banking markets.A divided economySpeaking about the changing market, Sahar Salama, CEO and Founder of the full-service mobile payment platform TPAY MOBILE, notes that increased digitisation of the economy is creating a divide between the technologically savvy and disenfranchised groups. She says this requires appropriate government policy so that everyone can benefit from the new possibilities of the digital world.“As our society becomes increasingly cashless, some advocacy groups have raised concerns about the inclusion of vulnerable groups in the digital economy.“While these concerns are warranted and it’s true that not enough is being done to include everyone in the digital economy yet, the solution should be a collaborative one that involves governments, regulators, financial services, and fintech providers all playing an active role, rather than a rejection of the concept of cashlessness.“For a cashless society to be truly successful, digital payments must be accessible and appealing to everyone.”New opportunities for financial service providersReports suggest that an estimated two-thirds of the world’s unbanked – so around a billion people – use their mobile devices for transactional purposes.Salama points out that the use of mobile technology can increase access to financial services by reducing barriers such as the need for physical infrastructure and documentation. As a result, mobile financial services have the potential to greatly increase financial inclusion for the unbanked population.Additionally, cryptocurrency transactions can be quicker and cheaper than traditional banking transactions, making it an attractive option for individuals in developing countries for whom there may be limited access to traditional financial services.Image credit- coindeskThe peer-to-peer digital currency Bitcoin debuted in 2009, introducing the concept of decentralized finance to the world. While tax authorities, enforcement agencies, and regulators globally are still debating how to control it, many consumers wonder if they can use Bitcoin legally.Whether or not you can use Bitcoin depends on which country you're in. Learn more about Bitcoin's legal status and how it is—or isn't—regulated by authorities worldwideCountries Where Bitcoin Is LegalBitcoin can be used anonymously to conduct transactions between any account holders worldwide. This has introduced some currency concerns for governments. While some legislators and officials may not support its use because of the lack of control and illicit ties, many have introduced regulations under their country's anti-money laundering and counter-financing of terrorism laws (AML/CFT) in attempts to reduce its use for these purposes.Price Waterhouse Coopers (PwC) created a report on global cryptocurrency regulation. The report identified select countries whose governments directed their financial regulatory agencies to develop regulations and priorities for financial institutions regarding cryptocurrencies and their use in AML/CFT.1PwC also identified many countries that do not allow cryptocurrencies to be used. Here are a few of the countries where crypto is legal and illegal.The United StatesCountries Where Bitcoin Is LegalThe United StatesThe European UnionCanadaAustraliaFranceOther Countries Where Bitcoin Is LegalDenmarkGermanyJapanSwitzerlandSpainUnited KingdomFollow me ON BINANCE Thanks for reading❤️#BTC/Update: #BinanceSquare #Trendingcoins $BTC