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?
Yes, it will certainly threaten a country's economy and will even affect the world if a major country collapses like China or the United States. let me explain this, you have a chain of stores selling items and paying with cryptocurrency. All revenue must return to your wallet after 1 month or 1 year of operation. but if the employee there is dishonest and starts taking money from the store to use and you can not control the chain of retail stores. If it happens often, do you think your business will last forever? This is like the government is facing crypto. they cannot control this kind of technology and they are afraid that people will evade taxes and money laundering in many ways. Those are the indirect steps that make the country collapse.