I just want to ask the opinions of the members of this forum regarding the gradual yet obvious turning of events in the world as regards the development of cryptocurrency vis-à-vis the banks and the governments.
Do you guys think that the with the powerful banks and the governments joining in the crypto development, its revolutionary system will somehow get pulled towards the old kind of system we have right now?
I need your wide perspective on this please. Thank you.
As we all can see, cryptocurrency is being regulated now by the government due to some negative reasons that it can be used in money laundering and funding of terrorism. I know that those things already did happen previously due to the anonymity of cryptos that's why some of the country's are banning bitcoin or any other crypto.
With this adoption of the banks to cryptos, I can clearly analyze that the decentralization that we all want will be gone forever since it will be controlled again by the banks and government. They wanted to tax everyone who is holding any crypto as well. So you are right in your way of thinking that sooner or later the new system of decentralization that we all dreamed of will go down the drain. I'm just hoping that the cross border fees will not be as high as what the old system.