I was asked on QUORA the interesting question - " Can the IRS destroy cryptocurrencies?" Below was my answer. The link to QUORA is also given below.
Blockchain technology is designed to facilitate peer to peer transactions.
Wise and progressive nations are embracing the technology and coins up with regulations around it which are good and necessary to safeguard the investor's interest.
For any govt and authorities it would be counter-productive to ban use/trading/investing in cryptocurrencies. Even if one country does try to ban cryptocurrencies, the revolution will continue around the rest of the world.
Something that is for the betterment of society can't be stopped unless the whole of Internet is brought down ( which is simply not possible and even if they do, the geeks will come up with decentralized internet).
https://www.quora.com/Will-the-IRS-destroy-cryptocurrency/answer/Kuldeep-Kaul-18
