Recently, many governments have been showing increasing animosity against Cryptos. While the
US is preparing to launch a Blockchain surveillance plan, other countries such as
Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.
Should we be worried about this?
The trend of using bitcoin in many transactions is getting higher day by day as compared to fiat. If we look into the financial perspective. It may have a great impact on the economy. Governments should formulate regulations on crypto markets rather than banning or crackdown. Also as about the crackdown on crypto, I think it would be practically impossible for the government. However, nothing can be exactly predicted.
I don't think crypto transactions can now be considered higher to fiat transactions because the majority of financial transactions across the globe is still in fiat. But I do agree that crypto adoption is increasing day by day. Crackdown is not ultimately possible because people can still do their crypto transactions without the government knowing it. There are so many ways now how to go around the government. So it is not in their best interest if they will totally ban it, because users will always find a way how to execute their transaction.