Governments are unaware of the existence of cryptocurrencies and when they know about it, they have become popular and are trying to learn about it.
Really? Do you convincingly think so or you're just saying it? That governments are unaware of cryptocurrencies? Nah, it's not true. Tell us that governments aren't too interested in it yet as you noted later in that post and that will be plausible. We're in a world of internet and social media where every item of news flies across the globe in minutes and you think politicians don't pay attention to news? That will be unexpected. They do listen to news more than the ordinary folks. So, they know.
Just a moment. Okay, we assume the government is aware of the presence of cryptocurrencies. Still, they don't pay much attention until, finally, cryptocurrencies become big and popular as they are now. Then the government realizes they are a little late and trying to control its movements. But it's a bit late because many people have already joined and are using crypto as a tool to make money.
Try to understand that the government is currently trying to suppress the rate of cryptocurrency and several countries have not yet given the approval to legalize cryptocurrencies. But they are working on it.
And hopefully, the government will continue to allow us to use it and not make regulations that are too strict for its citizens.
Contrarily, I think regulations will further help strengthen this crypto industry and help checkmate scams and all that the same way we now have it in Forex trading. No regulations will mean that scammers will continue to have free hands without checks.
Helping the crypto industry? Maybe it will not happen for a while because the government is still making the regulations. Maybe for some countries, the regulations are ready but for most countries, there are still many that have not legalized crypto. But indeed, the government wants to help reduce fraud in investing in crypto.
