CBNs and CCMs
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Payments through cryptocurrency have now become a norm in some parts of the world and are gradually becoming prohibited in some.
Observing the patterns of countries around the world, it's becoming pretty obvious that in societies where their economy keeps going through series of crises, they usually have one way or the other to place a lid on the crypto activities.
However, other countries and states who pay attention to the possibilities of the crypto market look into ways of harnessing its pool for their growth.
One of these countries is England. Where there are talks ongoing about the creation of their own coin. However, that's not the main topic today.
While different countries like Israel, Denmark, Switzerland, Argentina and the United Kingdom categorize cryptocurrency taxes under different names, there are still other countries that have not added cryptocurrency taxes to their revenue, at least not directly.
Countries like Belarus, Singapore, Malta, Portugal, Germany and Slovenia are some of the countries I found listed.
Control matters to governments. It's the main reason why governments around the world are afraid of this growing industry.
Bitcoin overrides the current banking system, undermining the importance of the central banks, and in turn fiat.
While this comes as a major threat to many countries, it still doesn't change the fact that until central banks accept bitcoin or other currencies as a legal tender, they cannot make the central bank useless.
While the adoption of bitcoin is quite massive, with no government support, it would take a government to intervene to raise the cryptocurrency high enough to expunge the central banks.
In the meantime, central banks are still studying the ever-evolving industry and looking for ways to harness its growth and create their own digital coins to compete on the market.
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