
Introduced in 2008, Bitcoin has since produced its fair share of controversy and news. Amongst this, there has been widespread adoption of Bitcoin, amongst other cryptocurrencies, which has, in turn, brought with it a whole host of complexities and challenges.
One such challenge is the relationship between global governments and cryptocurrencies, in particular, Bitcoin, with complex and ever-evolving issues. Although some countries have embraced the integration of Bitcoin, others have been more cautious about the intricacies involved. With that in mind, let’s take a look at some of the reasons why governments are wary of Bitcoin.
Bitcoin Can’t Be Regulated
In order to understand why governments are cautious about the introduction of Bitcoin, it’s best to understand why the role of Bitcoin can play a huge role in the country’s economy. Fiat currencies, which are conventional currencies used by governments, are typically backed by the government. In the US, the government also relies heavily on the Federal Reserve, which is a central bank that Congress only has partial control over to manage the circulation of money.
Bitcoin is unregulated, meaning that governments can’t control it. The US has taken a varied approach to the regulation of cryptocurrency and some individuals … Read More..






