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    Author Topic: What if they tried it  (Read 812 times)
    jostorres
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    June 09, 2023, 08:55:30 AM
     #101

    It may sound a bit crazy, but owning decentralized coins is a better move than having centralized ones. Similarly, using a non-custodial wallet is a step ahead compared to a custodial wallet. So, there's no harm in using coins and wallet services without government intervention, as it's at least two steps ahead in terms of protecting personal identity data.

    Considering the economic might of the United States, I remain skeptical that the government would dare to take such actions, given that the cryptocurrency space is still relatively small in comparison to the global economy. What reasons would drive such a move? Does the USD feel threatened by the existence of cryptocurrencies? It simply doesn't make sense.
    Central authorities feel threatened by people owning decentralized cryptocurrencies like Bitcoin and using them to spend or store their finances which will take control from their hands and give it to Bitcoin where there is no central authority as it is decentralized. If that happens, the traditional financial institutions that have been controlling the finances of people for centuries will suddenly start seeing a drop in their customers and the money being kept with them.

    This is probably the biggest threat for them to come up with all these regulations and allegations on exchanges and shutting down platforms, etc. I don't believe that they impose regulations only to keep their citizens from harm or losing money, that is just an excuse to cover things up.

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