Crypto & Government

"Crypto is the future money of the future world". I used to say it many times because it's just a matter of time, it will happen and I strongly believe it. Unfortunately in the present time, most of the government is against Crypto. Although there are some disadvantages to accepting cryptocurrency but most are actually afraid that they will lose the control of assets of the general people which is really hard to accept for a government.

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Crypto gives us full control of our assets. This is the reason people are getting interested in cryptocurrency although many people are yet to know about cryptocurrency. With time people will understand naturally and it's quite expected that in the future cryptocurrency will replace physical money. No government has the capabilities to control crypto and so no government can restrict a user from using cryptocurrency doesn't matter what kind of steps or ban the government imposes. Somehow users can manage to access cryptocurrency.

I am from Bangladesh and in my country cryptocurrency is not so popular thing. In my country, cryptocurrency is not official and counts as illegal. Although it's not legal in my country, I never faced any kind of difficulties in using Binance, Kucoin, and other exchangers. And till now it's a very good thing in my opinion.

Very few people know about cryptocurrency in my country and fortunately, I am one of them who have little knowledge. None of my family members and friends have any knowledge about cryptocurrency. Some just heard the word only and that's all. Till now I haven't met face-to-face with any person who have knowledge about cryptocurrency. When I realized the truth, I was surprised. But based on my social media observation, little by little people are trying to understand about cryptocurrency.

Our government was not so worried about cryptocurrency in the past but in recent days some news comes and they try to discourage others from using cryptocurrency. A few months ago police were arresting traders (if they found) as it wasn't legal. To be honest I feel police have approximately zero knowledge about cryptocurrency the arrested people illogically. Because of that, the central bank of my country gave a statement indicating the Police. The statement was "Buying and selling Bitcoin is not a crime unless it's related to money laundering". It was just a statement but still now based on law, cryptocurrency is not legal in my country. But from the statement, we can predict that our government may legalize cryptocurrency in the near future. Whatever it's just a prediction.

My country is a developing country and in current times money laundering is a very common thing. In most cases, it has been seen that many rich people are somehow connected with money laundering, and because of it government loses a good amount of money of my country each year as that money is going abroad and not coming back. Just imagine, What will happen if the government legalises cryptocurrency. It will be giving free licenses to those people who are doing money laundering because in the case of cryptocurrency, the government will not be able to track the transaction of assets and money laundering will be very easy and I think our government may face a huge blow for it.

What can be the solution? I think the government should accept cryptocurrency and I hope it will happen in the future. But at the same time, the government needs to track the transactions also to protect money from money laundering. So developing and exchanger of my own country is very much needed and allows people to access crypto and in this case, people will be happy and the government can track the transactions of users also. Although I don't like the government checking my assets and transactions but in my country I think it's must. Moreover, Our native currency lost value against the Dollar. If the government needs to buy dollars then the government needs to pay a higher price compared to the past. But I think the government can buy the dollar from traders at a little low price and I will our country's traders and they will do it if they find a way to legally cash their money.

To be honest, my online earnings, or the earnings from cryptocurrency trading do not have any significant impact in my life as I don't need the money in my real life. I make little withdraw from my online earnings and so the situation of cryptocurrency in my country does not affect me.

But I keep everything secret about cryptocurrency from the outside world. There are some reasons behind it. The first reason is I don't love to share about my finances with anyone. The second reason is many people may feel jealous hearing about my crypto asset. The third is the police. I don't believe the police and they can bring unnecessary trouble if they know that I have cryptocurrency. 5 days ago some police officer arrested a freelancer saying he was doing crimes by money laundering. Police officers seized his mobile and in the night time, they transferred 3300k$ from Binance just by taking the fingerprint of that freelancer. 3300k$ stolen by police and it was illegal but unfortunately, that person lost his life-earned money.

As a safety case, I hide fine all the wallets related to cryptocurrency and I don't want unnecessary trouble. I ensure that police find nothing even if they try hard. Whenever I am in a public place or outside of my home I don't use exchanger/wallet or check the price of the cryptocurrency. I am not afraid because I am not doing anything wrong but why need to take unnecessary trouble?