created and edited using Canva.
Some of old school people in government have power in our country that do ban things every other day like from two days X (twitter) is down and it's not a new thing.
Whenever government doesn't like a thing on internet, they either take that down or can take that app down to stop whatever is trending on it.
Like recently we had elections and after 9 days still no prime minister is elected as the results isn't declared yet.
Now when it comes to crypto the only reason that's common behind all government banning or want to introduce a cbdc is they want to control like rest of the things.
Crypto and Government: Tale of Upsetting each other
In our country government isn't friendly to crypto, they've tried to ban crypto couple of times from 2018 to onwards.
It's about 2022 when I got to know crypto cannot be legalized in pakistan because of fatf condition and being on the grey list.
Image by WorldSpectrum from Pixabay
The thing is government trying to upset crypto users by bringing it's not allowed, shutting down mining but crypto surprise government everytime because people are still using crypto on all the exchanges that are available and trading without any taxes.
Using Crypto without any Tax
In India I've heard there's about 30% tax imposed by government on crypto meanwhile We've zero tax and no such policy as of now.
Image by Steve Buissinne from Pixabay
Using Crypto since 2021 and exchanging to fiat and fiat to crypto... nothing goes to government.
No one like taxes but country can make some policy for it's development in crypto sector from the taxes they can collect.
Government doesn't Care about Crypto much
Our people in power are after things that can benefit and empower them, where they can do corruption but since we know crypto is mostly transparent and they can't freeze my wallets or people assets stored in cold storage.
Image by Gerd Altmann from Pixabay
They just don't care about it and have no plans at all.
The other countries like El Salvador is a prime example how a nation can rise with crypto.. they need to empower people.. make it easy to access the platforms and awareness or more education.
There can be a lot of jobs only if government simply add a degree about it in the course.
They should give space to mining companies especially using hydro power and make it more accessible but so far there's no such sign.
Wrapping Up...
In the end, crypto is one thing that will eventually upset the government when they'll figure out it's not possible to control this thing and can't inflate the supply like they've did with infinite money printing.
The more solution crypto will offer to people, the more people will use it in the coming time.
I hope In the near future our country come with a proper plan to not just legalize crypto but also work on the development of this space.
