Post
Topic
Board Bitcoin Discussion
Re: Government ban on crypto
by
Furious 7
on 29/03/2021, 10:50:16 UTC
To simply those list, its decentralized currency, banks and government can't make a profit from cryptocurrency so they would rather ban and ensure that people would stick to the regular currency which then can regulate. Its nothing new, tons of government bans Cryptocurrency to the point that there are certain countries bans mining as well.
There are some governments that already have regulated Bitcoin and imposed a tax on cryptocurrency earnings. So, saying that governments can't make a profit from them wouldn't be true. Because of this reason, I think regulating Bitcoin is more advantageous for governments rather than banning it.
If the government can regulate then the profits will definitely flow in every income so the government will have full control if this is regulated, just look at now that many institutions have adopted bitcoin, now the government can also impose taxes so it's not just one. The thing for many other companies if the government supports it in this way, not only because of decentralization but all that it can be done completely.

The government has begun to be interested in preventing the ban completely, but the government will assess how the government will fully support it.