Financial Regulator Advises UK Crypto Speculators To Limit Holdings

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Despite the current bear market, Konzum, Croatia’s largest grocery chain, has experienced an increase in cryptocurrency payments such as Bitcoin (BTC).

Ines Barbir, Konzum’s head of business applications, told Cointelegraph that the company has experienced a considerable increase in sales made via cryptocurrency payments since 2021.

Konzum will accept cryptocurrencies as payment for its products for the first time in December 2021, including Bitcoin (BTC), Ether (ETH), Tether (USDT), and USD Coin (USDC)

As a result, many self-service cash registers at pilot sites have been modified to accept bitcoin payments.

Konzum has partnered with local crypto payment business Electrocoin for the second time to provide cryptocurrency payments to all 700 physical enterprises in Croatia.

According to Barbir, new payment mechanisms have been developed, and Konzum is working to increase its crypto payment option.

The company’s CEO has not disclosed specific data about the increase in payment volume after the launch of crypto payments.

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The increase in bitcoin payments on the platform reflects Croatia’s growing acceptance of the digital currency

Even in a weak market like this, it’s encouraging to see more people interested in our products.

Overall, there is a growing interest in cryptocurrency payments, as well as a desire to adopt cryptocurrency payments in Croatia.

According to a spokeswoman, Kroatien is “at the top of the European Union” in terms of bitcoin acceptability.

Fintech companies such as Electrocoin, according to a company spokeswoman, are partly to blame.

“The reason for this is partly due to fear and cynicism in new technology,” said the spokesman, “but it is also attributable to the absence of regulation in the crypto market.”

According to a source, the European Banking Authority sees retaining crypto staff as a “serious risk.”

In recent years, there has been a lack of cryptocurrency legislation in Croatia, with proponents of the technology arguing for self-regulation.

According to the National Bank of Croatia, cryptocurrencies are not legal tender or acceptable payment instruments in Croatia.

Despite some apparent crypto uncertainty, Croatia has emerged as one of the world’s most crypto-ready countries.

According to Forex Suggest’s poll, Croatia ranks 6.2 out of 10 in terms of crypto-readiness, trailing just the United Arab Emirates, Georgia, and Romania.

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