Governments often oppose the concept of decentralized monetary systems, like Bitcoin and other cryptocurrencies, even though gambling is allowed in many places. The main reason for this is that decentralized monetary systems put the government’s authority over the financial industry and money flow in jeopardy. Government Regulation Of The Banking Industry Governments accomplish a variety of economic and political objectives by using their power over the financial industry. To control interest rates, for instance, governments use central banks. These policies can be used to either accelerate or impede economic progress. In order to collect taxes and issue debt, governments also
The post Why Governments Dislike Decentralized Monetary Systems Like Cryptocurrency appeared first on The Merkle News.
