Why Government does not like crypto?

[Mmesooma1]

Government is about having the authority to control the affairs of those it governs. Cryptocurency offers financial decentralisation to members of the public and thereby limited the government supervision and monitoring of individual financial activities and this is what the government hate so much

[1714173082]

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[Dannev]

They claim to be fighting corruption while most of the top leaders in government have hidden crypto assets. It's just better if the government stop hating and adopt cryptocurrencies.

[Proc.dev]

They claim to be fighting corruption while most of the top leaders in government have hidden crypto assets. It's just better if the government stop hating and adopt cryptocurrencies.

Indeed if cryptocurrencies with public blockchain will become new money it will be very hard to realize corruption schemes of washing money with totally traceable transactions. I think some fear it also

[DR_Vladislav]

the government banned the cryptocurrency. What is the reason behind this banned?

First of all not all goverments banned the crypto.
But some goverments banned crypto each has its reson and has its justification in which it is not the right justification and all resones is o protect the centralize econemic system.
Finaly i will add blockchain tech is the best happing to us now. We hope all will support this new era of blockchain.

[alarsincoin]

The government does not like cryptocurrency because it cannot control it. But I am very sad that this prevents the introduction of blockchain technologies into people's lives.

[Impaler]

There is enough reason to not like crypto currency for government. The most important one is that government dont want to lose their control on public where they rules. They made for the public but if they start using decentralised things it's really hard for government to surveillance on their own people. Second is economy government want a economical ecosystem where they can rule among all general people. But if they start using some digital currency what they can control it's a big loss for them. I think this is the main two resin behind this.

[dosSantos]

I think government agencies will be able to accept cryptocurrency someday. But at the moment, people know little about cryptocurrency, so they are wary of it.

[bce]

most governments with us are certainly different thoughts. because the government has a big responsibility for the country. so any decision made by the government must of course be accepted by us. so we don't think negative first why the government doesn't legalize bitcoin. because they certainly still think long.

[cerberus5424]

I also think that most countries have already supported cryptocurrencies. Of course there are still countries that resist, but I think that the governments of those countries realize that with their consent or without, cryptocurrencies will continue to gain interest among citizens and over time can increasingly begin to use cryptocurrencies, which in turn can destabilize the financial system of the country. To prevent this, governments will have to find a compromise.

[Badhuamin]

maybe because crypto is not as stable as money and gold so it is still not accepted in some countries, for now only people who already understand crypto are still investing in crypto.

[Proc.dev]

maybe because crypto is not as stable as money and gold so it is still not accepted in some countries, for now only people who already understand crypto are still investing in crypto.

How long ago did you check gold price? Last several month it has 15-20% volatility. Fiat currencies also have a lot of volatility. Even evro

[wxganz]

Besides inability to control it, I think government is afraid of economy troubles. And criminal troubles. Money coming out of nowhere to people who are not seeming to be rich.

[edmundo]

This holds true for everything that liberates or decentralizes the people financially. The government must always look for a way to stop people becoming too wealthy and powerful. The Blockchain and crypto technology offers this and it is no surprise to see them bent on eradicating and checkmating the industry by all means.

[Proc.dev]

Besides inability to control it, I think government is afraid of economy troubles. And criminal troubles. Money coming out of nowhere to people who are not seeming to be rich.

Actually governments can easely conrol cryptocurrencies. Governments have very many resources. They just need concentrate some mining power in their hands to control cryptocurrencies. And probably they already do that.

[goodbuybitcoin]

The time will come and the government will be able to accept the cryptocurrency. It seems to me that they will be able to appreciate all the advantages of crypto.

[boris singer]

there are some intentions from those who try to find a solution even though it is not possible, they do not question the flow of transaction funds because it is difficult to prevent, but extreme intentions arise that they try to apply the Kyc formula to the blockchain wallet.
I don't feel this can work, but in fact the main stigma is that they also respect crypto, far from being dislike that has become a widespread rumor.

[bitelliotZOOM]

Many countries have accepted bitcoin. I think that this trend will continue for several years. I believe that all countries will accept cryptocurrency in the near future.

[CapnBDL]

Many countries have accepted bitcoin. I think that this trend will continue for several years. I believe that all countries will accept cryptocurrency in the near future.

Well, not exactly everything but many, and it's not just about Bitcoin, it seems to me that it is not as important as other projects. There are projects that are more needed, for example, Ethereum.

[kiansantan]

Because crypto is considered to disrupt the economic stability of a country itself. Because of the overactive movement of volatility in the environment, it endangers the security of economic growth.

[marksayson]

I think that government are not happy about cryptocurrency is because they have no power to regulate it, and they cannot get any potential tax for every transactions they make.