Posted 1 year ago | by Ben Armstrong
COVID-19 Pandemic Hits Crypto Companies
The United States announced new travel restrictions in response to spread the COVID-19 coronavirus last week. President Trump released a Presidential Proclamation that suspends the entry of most foreign nationals, who have been in Europe for 14 days prior to their travel to the USA.
The list of those countries contents Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland.
The United Kingdom has been exempted for the moment.
Not Much Anyone can do About COVID-19
India announced plans to suspend visas for most foreign visitors who will enter between March 13 to April 15 and will close the country’s land border with Myanmar. Air India also has already canceled flights to Italy and South Korea, which are known for being affected by the outbreak outside China.
Other countries like Australia and Saudi Arabia, are also planning to tighten travel restrictions.
The Blockchain industry also has suffered a lot among worldwide travel and tourism. Several projects in China were not able to resume work, and this may be partially responsible for the drop in Bitcoin's price.
The imposition of travel restrictions aims to stall the spread of the disease. There is a long line of consequences from the COVID-19 outbreak. In addition to the suspension of numerous travel options, the global supply chain is grinding to a halt.
Crypto conferences have been canceled or postponed, along side of many other popular events.
A major crypto event, TOKEN2049, which was held annually in Hong Kong and was scheduled for mid-March 2020, is changing its date to October 7-8, 2020. Also, Hong Kong Blockchain Week 2020, which originally scheduled for March, has been bumped to September.
Italy’s upcoming EDCON has been canceled, and no new dates have been announced for South Korea’s Nitron Summit 2020. As the United States has set up a travel ban, major crypto conferences on both sides of the Atlantic may soon be postponements or canceled.
India’s Crypto Bulls Roadshow has not given a statement yet, and their original plan to speak at Consensus 2020 in New York looks like it is a longshot. Any one will face challenges for both leaving India and entering the USA.
While the restrictions are seeming severe to people in the crypto community, health experts argue that they are necessary to protect the sick and elderly, who are most at risk from COVID-19. Although the travel restrictions may help a little bit, they are unlikely to impact the overall economy, which is in a dire condition.