While Bitcoin replaces fiat currency and gives a more fluid and smoother way out, there are a number of crimes that law makers worry can be carried out with it.
Although governments fail to understand that all industries have some form of crime that may affect the democratic and legal process of the nation, all industries are not as bad. This is hard to feel for bitcoin as it is easy for the traditional businesses.
Nobody hates the online dating industry because it promoted the chances of date rape which could be a bigger moral test for these moral high priests of law making bodies globally. Nobody hates the fiat currency or cash because it gives chances to the robbers and street mugs to steal money from innocent people. But, hey, when it comes to cryptocurrency, government should contain it because people could be robbed and their accounts could be hacked. Why don’t you shut down all the banks first because they are vulnerable to theft!
No, in fact, back in the historic times if the Meddici Family shut down their version of lending houses back in Spain, because of them being prone to theft and criminal activity or petty crime then there would have been no banking system, no private housing, no capitalist needs and wants, no credit cards, no overdrafts and no savings.
Governments that hide its weaknesses to maintain law and order behind the names of risky and too dangerous innovative processes, are actually scared of change.
Yes, we know now Change has been taken over by Making America Great Again, but things do change when they oughta because people who taste better things do not quit to go back to the mediocre ones.
Cryptos and especially bitcoin is constantly bullied because others envy it, they envy its potential and they are not sure how to keep their jobs safe while actively trying to welcome this new age tech that is somehow so out of their understanding.
Bitcoin is used to sell and buy drugs, this is the kind of explanation that you get when you try to argue with a lay person. Yes, so is cash and big bank payments, and gold and sex! People trade all kinds of things and in kind activities to raise money to buy drugs or to acquire the drug itself. Shut down every thing then! Please.
If drugs are bad, which they do not have to be if the regulatory system is on point, but if even if, a big big even if the drugs are bad, then cut the production plants and stop them from being produced, regardless where it happens and how it can be done. Blaming a currency and the transactions on the dark web labelled as illegal is not going to do sh*t!