Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country monetary institution. What do you think is the reason why other governments are discouraging its citizen to use digital currency? Any thoughts.....
Because they won't be able to collect tax from you. The governments are always on the chase for people who are earning the big bucks. And Bitcoin generates a huge amount of money for its users. The governments get frustrated with the fact that they can't collect taxes from Bitcoin users because they have no control over this system. Which is why regulations are being made and implemented in some parts of the world. Governments are generally greedy. They want everything for themselves.