Over the years cryptocurrency has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.
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.
What is your take on this and what do you think will make governmental bodies to finally accept crypto?
It has been an issue for so long already, I think crypto threatens the government because of the fact that they wouldn't be able to regulate the rotation of the money anymore since crypto is decentralize. Another thing could be the fact that it gives anonymity to all the users making it easier to conduct illegal transactions. There are a lot of possibility on why but let us just show them we're using crypto properly.
Well, Cryptocurrency threatens governments due to the reason that there are more and more people are now investing in it because they find it more profitable rather than investing in the bank. Also, there are criminals that are transacting through bitcoin and the government can't track it. In short, the government afraid that in the future bitcoin will become their big competitor when it comes to a financial status which is usually happening. But as of now, only illegal transactions were putting shit into the image of bitcoin government think that this is not good for their community.