Exactly, I once spoke about the negative impact of government involvement in cryptocurrency and here we are almost forced to do KYC on almost every exchange and I wouldn’t have to speak for other countries, but for my country, and for an exchange to function properly and freely in my country, they must have to be registered with the government and you trust what that means? It means, for every authorized exchange user, you must do KYC at some point, either when registering, before deposit or before a trade and you’ll agree with me that, the government are already winning on the fight of decentralization because for one to trade their coin confidently, they would need to use a trusted exchange, and for an exchange to be trusted, they need to register with the government.

Truth be told that, some cryptocurrency users and scammers are making the decentralization of bitcoin a difficult one because people can’t even trust the actual decentralized exchanges but rather would prefer to submit their KYC and trade with a centralized exchange giving the government more edge which is wrong.

In conclusion, there is absolutely no need of taking our bitcoin or wallets to the bank when we can do that ourselves without the help of a third party which the primary purpose of bitcoin.