bitcoin news

Why do governments have a problem with Bitquin and e-currencies in general?

The problem of governments with the currency of the Betquin is centered around the issue of control and control. Betquin is essentially a decentralized currency that can not be traced by the central authority; hence the inability of governments and central banks to apply the same way they manipulate and control the value of paper currency through monetary policy.

• The second problem is the identity of the accounts. When Bitcoins are handled in portfolios that are kept in the IP address instead of the individual's name, governments determine how much money an individual has by obtaining a record of all his bank accounts. Something they can not do with electronic currencies.
  Some believe that Bitcoin and the rest of the other electronic currencies are designed in ways that make it almost impossible to organize. This is a big problem for governments for one main reason:
  ==> Calculate taxes. If people convert their property into an anonymous record book, how will the government know how much wealth the individual holds?
  If the government can not know the income and wealth of the individual, it will not be able to calculate the amount of tax owed to the individual.

The problem does not seem to be resolved through confrontation. Major economies such as Japan and the United States support mining operations. Currencies. They have confirmed several times that they are not looking to break encryption. But they intend to bring more transparency to exchanges and eliminate fraud.

For us as currency traders, we hope that things will be resolved in a way that is beneficial to all stakeholders, without causing too much damage to encryption processes.