Overview of the Travel Restrictions

Today marked a significant shift in travel policies as President Trump signed a Presidential Proclamation that affects the travel plans of many. This proclamation suspends entry for most foreign nationals from select European countries who were in those areas within the past 14 days. The list is a roll call of nations that includes France, Germany, Italy, and many more. If you were hoping for a European escapade soon, you might want to look for a nearby beach instead.

India and its Visa Suspension

Meanwhile, India decided it was time to tighten its own travel regulations, choosing to suspend visas for most foreign visitors until mid-April and closing its land border with Myanmar. This decision extends to cancelling flights to two of the hardest-hit countries outside China—Italy and South Korea. So, for now, no pasta or kimchi for you, foreign visitors!

Global Travel Disruptions

Come February 2020, the travel and tourism domain has faced a pivotal decline with the pandemic cascading tragedies worldwide. Initially, China was the epicenter, even delaying its grand celebration for the Lunar New Year that typically gets people moving across the country. With delays hitting the crypto sector too, many struggling businesses are left wondering how long they’ll have to wait for things to normalize. Highlighting the personal stakes of the situation, the price of Bitcoin even took a nosedive during this frenzy.

Crypto Conferences in Quarantine

The crypto conference circuit has been hard hit, with major events in Asia falling like dominoes. TOKEN2049, the crown jewel of crypto gatherings in Hong Kong, was pushed from March to October, while the Hong Kong Blockchain Week was delayed until September. Unfortunately, not all announcements have a happy ending; Italy’s EDCON was outright cancelled with no replacement dates in sight. It seems that for crypto enthusiasts, the road ahead is filled with uncertainty.

Health Risks and Market Reactions

In a sobering twist, the community was rattled when an attendee from the ETHLondon hackathon announced they had contracted the coronavirus. With case numbers like a crypto chart in freefall, major sell-offs were inevitable. Just days after the announcement, Bitcoin saw a reduction in its price nearly totaling 6%. The uncertainty, of course, has investors feeling jittery, resulting in panic-selling across various platforms.