Bitcoin

This reflects a strategic shift from centralized control to user-consent models, aligning with rising decentralized identity (DID) adoption on blockchains like Ethereum (12% QoQ growth in DID project funding). However, it coincides with record-high institutional BTC outflows ($420M last week), showing regulators now prioritize political sustainability over control in identity systems while crypto faces separate macro headwinds.

The government shifted from a mandatory to a voluntary digital ID scheme following criticism from a scrutiny committee.