The government is trying its best to control the bitcoins. They are forcing people to use the centralized exchanges so that they can keep track of how many Bitcoins a user is selling and how much he is withdrawing. Next, it will impose tax based on the winnings. So yes, in the future, if this goes on, then I highly doubt that the popularity of the coin will increase. People get into Bitcoins due to the decentralized nature of it. But now the government is trying hard to either make it illegal or impose a huge tax on it. Due to the decentralized exchanges and P2P platforms, Bitcoins are still heaven for many investors and traders.
No matter how hard the government tries, controlling it is impossible. It is a matter of much trouble; if ever controlled, it must be more easily controlled. Any country's government cannot control blockchain and cryptocurrency because they are decentralized. However, it is controlled by its height so that no one can find its identity.
However, if each country's government verifies transactions through a specific exchange, it may be possible to control where and how transactions are being made.
Despite ongoing discussions, the path to widespread legalization of digital currency remains uncertain. It's a future that may require patience and anticipation as we wait to see how the landscape of digital currency evolves.
