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?
Based on what I have observed, government always want to control every transaction happening and earn tax. Whereas with bitcoin it was anonymous and cannot track easily. Also, there is no additional payment that will charge by the government which we all know cost more money compared in crypto. In addition, When there is a business or something that doesn't charge by tax, the government will consider it illegal. Government always want a kickback.