Many people when talking about governments and crypto tend to mention that governments don’t “get” crypto. I wish to propose another idea, namely that they do understand crypto at least to some degree. I believe that many governments see that they’re losing control of money and want to stop the outflow into crypto.
Let’s not forget that they use central banks to issue money out of nothing and change and bend the economy of currency under their monetary policies to enact economic influence. They are also the ones who decide how fiat is spent or shifted from one place to another, which allows for easy tracking of currency movement. Furthermore, they also control who profits from that movement. All of this control is not possible when decentralized entities create their own currencies.
They may say things like “crypto is used for crime” to which anyone who has ever looked at the statistics will tell you that the percentage of crime committed using fiat[(2% to 5% or $1.6 to $5 Trillion USD)](https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/)heavily outweigh that of crypto [(0.34% or $10 Billion).](https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/) I am not surprised that they want to keep all wealth where they can see it and neither should you.
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