The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?
government is furious because they are getting their own capital or funds from the banks and people are preferring to use cryptocurrency more than fiat so definitely, their funds will be decreasing due to cryptocurrency growth.
We knew that banks always lobbying on government about regulation. Government and central banks afraid on cryptocurrency because they can not control crypto supply and they can lose control on money supply.
Government should takes benefits from cryptocurrency by collecting taxes from crypto trades. If cryptocurrency market growing bigger, government can have a large taxes too and i think its mutual benefits