Lack of central authority is the main reason why the government is afraid of the crypto (bitcoin).
Bitcoin is the first decentralized peer-to-peer payments network supported by its users without central authority or intermediaries.
fiat is the term used to describe the conventional currency issued by the government, they use the central bank to remove or destroy money from thin air, the government controls fiat currency .
Exactly. Government cannot control what its people doing with digital transaction.
It would be difficult for them to trace every transaction, for intelligent and tax purposes
But yeah, we need some kind of regulation here in crypto, ths kind of freedom is dangerous. There are too many hacking, scamming and phising