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 does not threaten political power, but it will really affect the economies of many countries. Have you ever questioned why a mighty technology nation like the United States would ban the use of cryptos in their means of payment? all have a reason. because they know that this blockchain technology is uncontrollable and that it can fuel money laundering. This will cause many financial disasters. The US government will easily run a budget deficit if there are too many money launderers and tax evaders. and I never thought that any government would accept cryptocurrencies, and if it did, it would be a foolish act.