Mongolia's Move Towards Embracing Crypto

Big news from Mongolia's largest bank, TDB! They’re rolling out crypto services like custody and loans. This could really push crypto adoption forward.

Wait a sec... Mongolia a crypto-friendly country? That slipped past us. I mean, it’s cool news but can anyone share the article? Would love to get more details. It's a quiet place but who knows, surprises are possible.

Scratching my head over here. Where's the source for this news? Gotta see it to believe it.

Yeah, I saw that too. But they mentioned 'soon'. That doesn't mean they’re offering anything right now. And isn’t it mostly about their own CBDC, not Bitcoin or anything decentralized?

They’ve been on this since 2018! Just check out how the Central Bank is making moves for a digital currency.

But c’mon, just one bank doesn’t make a whole country crypto-friendly. For real, what about actual laws to support crypto? Without that, it’s just fluff.

Lol, totally. Seems like another clickbaity hype piece. Just one bank trying to make it sound bigger than it is. But if they try to jump on the crypto train for profit, good for their people. At least they won’t get left behind.

Mongolia’s got a tiny pop, only about 3.3 million. I wonder how many actually use crypto, though.

@TravelMug Bringing up a good point. When you say it’s win-win, who are you really talking about? 1) The banks? Of course they’ll profit. 2) The government? Definitely gonna tax any gains. 3) The citizens? I’m not so sure this helps them directly.

True, what does ‘crypto-friendly’ even mean? For me, it’s about countries being open to crypto laws and using it as payment. Everyone has their own idea of what that looks like.

This could be a significant step for crypto in Mongolia. TDB is the second-largest bank there, so real investors could come into crypto. They’re not just your average bill-payers.

Some friends from Ulaanbaatar mention development is happening in financial systems across Mongolia. It’s coming, probably sooner than we think.

Sure, Mongolia’s slow in adopting crypto and it may not be a big deal. But sometimes the underdog countries don't make a fuss about innovations like this. Unlike some big nations that act all paranoid about change.

When I saw the title, I thought it’d be a juicy read. Honestly, Mongolia being crypto-friendly isn’t shocking. They can learn from bigger neighbors like Russia. Plus, their society is democratic and has a Buddhist influence.