Quote from: radjie on July 30, 2020, 11:27:49 AM

government participation in crypto is actually not transparent, the government only wants to take advantage of crypto by setting taxes that must be issued by each user through local exchange, even the government has supported local exchanges to turn Bitcoin into Fiat and behind all this there are black and white provisions ( official cooperation) between the government and related local exchange management.

Exactly. Taxation is successfully achieved via centralized exchanges. It's this reason why governments support these type of exchanges over decentralized ones. Transparent cryptocurrencies like Bitcoin and Ethereum will see the approval of governments worldwide, as they're easy to track & trace for taxation purposes. Privacy coins, on the other hand, will see constant opposition to a point where they'll become "illegal" to use in the mainstream world. Even decentralized exchanges may become "illegal" to use in the future. While it'll still be possible to use them "under the table", most people will use centralized exchanges and transparent cryptocurrencies because of their legitimacy in the mainstream world.

As responsible citizens, it's important to comply with the law. You must pay your crypto taxes to the government, if you cash out to Fiat. Doing the contrary, will lead you towards fines or even jail time. Most people don't want to face these consequences, so they'll end up paying their taxes in return. As long as people and the government collaborate, the crypto/Blockchain industry will thrive. Efficiently taxing cryptocurrencies will pave the way towards recognizing the industry's legitimacy in the mainstream world. Which means, institutional investors will find crypto extremely attractive resulting in higher demand (and prices) on the market. Just my opinion