Will Government Shut Cryptocurrency Down?

Non tangible or digital currency is one of the forms of money which is not backed by the governments or central banks.  In the light of the escalating admiration of cryptocurrencies, like bitcoin and ethereum, central banks of different countries are active in analyzing and experimenting with their own versions of cryptocurrency, or advanced money.

Governments of different countries acting differently because some are of the view that it can be controlled by the government or can be accepted after fulfilling some legality. Governments around the world are experimenting with their own version of digital currency. Estonia became the first nation to introduce her own token called ESTCOIN. Similarly Japan has her own digital currency named JCOIN. China central bank recently launched TRIAL RUN.

On the other hand countries like Singapore and US are totally negating this phenomenon and trying to ban it in their countries. The trend of cryptocurrency is having place day by day in the business market so that’s why some countries are developing their own cryptocurrency.

These countries are China, Japan and Sweden. But the Russia’s cryptocurrency is in pipe line. There are many other countries which are working on the cryptocurrency such as U.S., China, Japan, Canada, Venezuela, Estonia, Sweden, and Uruguay. 

These are the most developed countries and the active workers on the digital currency. If we talk about the business market then its priority is quietly different from the government’s point of view. Actually, the governments want to promote the decentralization. But the important question about the cryptocurrency is always on its place. 

It means that everyone is cautious about the privacy and viability whether it is private business or government. US government wants to run the digital currency just like Japan. But it is very cautious on the initial step. But the experts say that the every government has to add the digital currency in the mainstream.