Why are many governments now talking about taxing bitcoin and cryptos or outright banning them? Here’s why…
At the end of January 2021 India was already talking about banning Bitcoin and crypto currencies.
Now, in just the last 10-14 days many, many more governments including Turkey, Saudi Arabia and others are talking about taxing Bitcoin and crypto currencies more ex post facto (after the fact and after people bought them) or outright banning them.
Because private competing currencies like Bitcoin threaten government’s monopoly on currency creation.
Prior to Bitcoin being created by the Cypher punks and Satoshi, many private currencies were attempted. Some were gold or silver backed. Those people ended up criminals and in trouble with the US government.
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