There is seemingly a growing desire by government to regulate cryptocurrency. It was once believed that bitcoin was anonymous and can't be traced. This isn't quite true since various techniques have been formulated to trace the transactions and discover the owner. Secondly, Exchanges are under pressure from regulators to introduce compulsory kyc for their customers. Also binance sent a message to its US based customers to stop trading on their platform because their account will be banned. I'm not sure if this has been executed by Binance. Crypto tax is a growing discussion across nations which allow crypto transactions.
What are your thoughts on these regulations? Do you think it defeats the purpose of bitcoin's creation?
Regulating crypto exchanges which are the source of selling bitcoin for Fiats is different from regulating bitcoin itself, as a matter of fact it's not possible to regulate bitcoin itself because bitcoin is fully decentralized, centralized exchanges will have no choice but to go fully regulated and many crypto users who don't like the move will have to start using DEX only