We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?
There are really a lot of topics here in this forum that they think that the government would create their own cryptocurrency, but in my own opinion they don't because the government and banks already have their own currency that they could control which is fiat currency. There are no any proofs and reason that the government will create their own cryptocurrency because only few of them are interested to buy it.
Well, everyone knows that the government created fiat currency and managed this currency through banks, they managed all the activities and income of each individual but even with such a stabilization, the government still needs to develop over time and meet the needs from the people, and now, the demand for crypto has increased relatively sharply every year, until a time when the demand became so popular. The government is forced to create its own crypto, avoid the case that they lose control of taxes and income of individuals in the country
If it will happen, expect higher taxes in every transactions that you will make. It will not avoidable, also your whole transaction, trading etc will be monitored by the governement. But the thing is people want bitcoin because of its anonymity feauture and it can be traded with no tax that are waiting when you withdraw it just a few cents for transaction fee however if government or banks make there own expect that all of these will be gone and new set of rules that are not good will takes place.