What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.
Cryptocurrencies aren't threatening the govt, they're threatening the banking system as a whole. Nowadays, people are opening their eyes and have started to take their money out of system to put it in a decentralized system like Bitcoin where they can be their own bank. Obviously, this means that the govt will start to lose
control over people's money, that's why they're doing everything they can to force people to stay within the boundaries of the financial system.
what do you think will make governmental bodies to finally accept crypto?
Adoption. I think once cryptocurrencies like Bitcoin go full mainstream and people start accepting them as payment worldwide, the govt around the world will have no choice but to embrace cryptocurrencies as the general public will be using it for pretty much anything.
Touché. To governments, loss of control over people's money means a great deal. The world only need about 10% of the world population to get into crypto to trigger a governmental crisis. That is why they are trying all means to regulate crypto.