$PI The main reasons why cryptocurrencies are difficult for governments worldwide to accept are:


1. They undermine the authority and status of national fiat currencies.
2. They are used as tools for capital flight, money laundering, drug trafficking, tax evasion, and for supporting international terrorists’ funding sources, posing security threats to the financial and capital safety of every country and citizen, and making social unrest more likely. No government would ignore these issues.
But the healthy development of cryptocurrencies is indeed the only solution to address international trust problems and completely break the deadlock of the international financial vicious cycle—removing government authorization/endorsement for the monetization of international financial currency circulation. This is a widely shared trend consensus that has basically formed across countries worldwide.
The problem facing us at this stage is how, based on this consensus, to discuss a workable international framework, with each country enacting targeted regulatory legislation according to its own national conditions. How cryptocurrencies can coexist with and complement fiat currencies is certainly an issue they are considering right now.
We must have a clear understanding of all these matters; it has nothing to do with whether individuals personally accept it.
PI1.49%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin