NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ideal Recipe – Mixing Governments With Bitcoins

Gautham
Gautham
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin, since its inception has been hailed for the decentralized model that allows the transaction of digital currency between users without the involvement of governments and financial institutions. People do not want government’s involvement in the Bitcoin economy. Attempts by the governments to bring about regulations for bitcoin is being met with stiff opposition. However, this can’t go on forever and for a good reason. There needs to be an active involvement of both government and the public in order to see Bitcoin emerge as a mainstream economy.

Currently, the value of Bitcoin is calculated against fiat currencies, and fiat currency is still the preferred mode of payments in most of places. The Bitcoin protocol is built in such a way that the transactions over the network are anonymous, making it virtually impossible to track them.

Why should governments get involved?

The anonymity and decentralized nature of Bitcoin transactions makes it hard to track. Unlike fiat currencies, Bitcoin usage lacks a proper overseeing authority to monitor transactions and its legitimacy. In the absence of government involvement, declaring earnings, finances and payment of taxes will turn into a voluntary affair. Ask yourself, when was the last time anyone was keen on paying taxes? Never! Therefore, lack of regulations will encourage people and businesses to default on their taxes.

Taxes are one of the major sources of revenue for the government. The tax money is utilized by the government for development, maintenance of public facilities, economic infrastructure, benefits etc. Without that, the whole system will collapse.

How can governments get involved ?

Governments can set up a mechanism similar to clearing houses linked to Bitcoin exchanges in the future. They can also provide an option to link individual’s/legal entity’s tax account numbers or social security numbers to wallets for regulatory oversight in order to ensure that Bitcoin users aren’t shortchanging the state.

Simultaneously, the governments and financial institutions should find a fine balance between implementation of regulations and privacy of Bitcoin users. It will also help mitigate the risks associated with Bitcoin and once the governments are convinced that it is not a threat to stability and security of their respective nations, it will be easier for Bitcoin to go mainstream.

Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Alternatívna kryptomena k DOGE, ktorá môže zmeniť 650 $ na 65 000 $ za iba 4 mesiace

Alternatívna kryptomena k DOGE, ktorá môže zmeniť 650 $ na 65 000 $ za iba 4 mesiace

Len málo tokenov vyvolalo toľko rozruchu a sympatií ako Dogecoin. To, čo začalo ako vtip, sa vďaka memom, nadšeniu malých...

newsbtc 2 hours ago
Bitcoin price crash

50% Bitcoin Price Crash On The Horizon? Analyst Reveals $60,000 Target

Despite the Bitcoin price holding up quite nicely above $100,000 and remaining very close to its all-time high levels, there...

Scott Matherson 3 hours ago

Станут ли 600 000 BTC точкой невозврата?

Запас биткоинов MicroStrategy составляет 597 325 биткоинов общей стоимостью почти $65 млрд, и следующий шаг может привести к тому, что...

lisachaikina 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Theta Network Welcomes Prestigious Hongik University as the 21st Academia Customer of EdgeCloud Hybrid

News BTC 9 minutes ago
Ethereum

Ethereum Sees $6 Billion In Tokenized Funds As Big Players Jump In

Christian Encila 39 minutes ago
bitcoin news

2025’s Biggest Bitcoin Bull Trigger Is Still Hidden, Expert Reveals

Jake Simmons 2 hours ago

Premium Sponsors

Press Releases

  • SEC, Quidax Bring Together Top Banks, Asset Managers to...

    2 hours ago
  • Wzrost altcoinów zgodny z tematyką artykułu

    3 Altcoins, na które warto zwrócić uwagę w pierwszym...

    2 hours ago
  • MEXC Ventures Hosts Successful “Kickstart Your...

    3 hours ago
  • Alternativni kripto uz DOGE koji bi mogao pretvoriti 650 $...

    4 hours ago
  • Token6900

    TOKEN6900: Meme Coin Tiềm Năng Với Presale Rẻ...

    4 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.