I disagree with that statement. Any government has A LOT to gain from proper and stable Blockchain/crypto regulations. It is a new economy that was born, with the potential to generate TREMENDOUS wealth for the governments that are on board in the form of tax revenues and future GDP growth across almost all industries that embrace and master/innovate blockchain tech.
The only governments that are absolutely terrified of crypto/blockchain are the very corrupt ones, where the oligarchic ruling class has a lot to lose if their countries' citizens move their wealth out of their complete control.
However, governments need to be very careful in implementing sound security measures when it comes to blockchain assets/instruments/currencies/etc. The irreversible aspect of blockchain transactions is a double edged sword. Also, it actually is in the governments' interest to blockchainize/tokenize their currencies; e-currencies are NOT exactly anonymous ;) Only cash is. Cryptocurrencies are easier to track for AML/CTF purposes, and actually help with recording/collecting taxes.
True, but we all knew that it was inevitable anyway, right?
they are accepting their defeat lol
I disagree with that statement. Any government has A LOT to gain from proper and stable Blockchain/crypto regulations. It is a new economy that was born, with the potential to generate TREMENDOUS wealth for the governments that are on board in the form of tax revenues and future GDP growth across almost all industries that embrace and master/innovate blockchain tech.
The only governments that are absolutely terrified of crypto/blockchain are the very corrupt ones, where the oligarchic ruling class has a lot to lose if their countries' citizens move their wealth out of their complete control.
However, governments need to be very careful in implementing sound security measures when it comes to blockchain assets/instruments/currencies/etc. The irreversible aspect of blockchain transactions is a double edged sword. Also, it actually is in the governments' interest to blockchainize/tokenize their currencies; e-currencies are NOT exactly anonymous ;) Only cash is. Cryptocurrencies are easier to track for AML/CTF purposes, and actually help with recording/collecting taxes.