Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?
Cryptocurrency is decentralized. No one controls it. There is no central office governing these currencies. Government can not impose tax with these currencies that is why they do not like the idea of it. Government projects were derived from community taxes, income tax, business tax, excise tax and other taxes so if the people continue to use cryptocurrencies instead of cash then there is no more taxes to collect which would result to government having no fundings for their projects.