At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.
Governments are starting to understand how beneficial Cryptocurrenies can be. Poverty, corruption and inflation, are all problems for developing countries. Years of political instability and poor governance has had devastating economic effects on these counties. However, the emergence of Blockchain technology and decentralized Cryptocurrencies may help solve these problems. The rise in the value of bitcoin could boost economic growth. Crypto technologies can be good innovators for the development of other technologies which the government can use in the future.