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?
I think some countries like Japan accept bitcoin? from what I know about financial freedom in the sense of technology, it takes a lot of courage for the government to accept it, there are still many weaknesses in digital currency, especially in anonymity and fluctuation, the government must consider whether there are many benefits to be gained. As far as I know bitcoin is still foreign to some circles, especially in terms of payment, digital currency has not penetrated in many circles.
What I think, the reason behind crypto currencies not being accepted by governments or facing good resistance is not that digital currencies are not being used in daily financial routines but the fear to lose power and control over public money. When we say bitcoin and altcoins are freedom then it literally is. No one can take it away from you, not even a single person can discover the total amount of your asset.