Specifically, they are grappling with the following three problems presented by Bitcoin in its current form. Bitcoin can circumvent government-imposed capital controls. Bitcoin is ties to illegal activity. Bitcoin is not regulated. All this are the major concerns of government not wanting bitcoin in circulation.
Below are the three major things that makes bitcoin looks like a threat to government:
* Governments around the world are eyeing Bitcoin's advance warily because it has the potential to upend the existing financial system and undermine their role in it.
* In its current form, Bitcoin presents three challenges to government authority: it cannot be regulated, it is used by criminals, and it can help citizens circumvent capital controls.
* Until the time that Bitcoin's ecosystem matures, it will continue to be viewed with distrust by established authorities.
By JAMES MCWHINNEY Updated March 19, 2022
* There's no way that they could taxed out into those people who had been holding millions of dollars
* There's no way that they could be able to trace up transactions in between those fellas
* Always having that same reason about that money laundering thing
* Simply doesnt really like for those people to make out some transactions which they cant been able to control on.
But the main thing would be decentralization and anonymity and this is why Gov't doesnt really like Bitcoin on any way. Somewhat there are places on the world on which
they do make out some reconsiderations but of course that hidden agenda would really be always something in behind which it isnt really that shocking
for them to do so.