Crypto vs. Government - Crypto Crepes Daily Blog Post #5

Many people think that crypto and regulators (or Government) are going against each other. They have their reasons.

Crypto is decentralized and government is, obviously, centralized. Non-crypto friendly country wants to ban crypto. Even in a crypto friendly country, the government still want to regulate crypto with various restrictions.
Governments do not want their fiat currency to be replaced.
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If we look closer to the government’s position on crypto, it is interesting to see that a government is fighting against itself.

Korea – In Jan 2018, the Justice Ministry made statements that Korea will ban cryptocurrency in its entirety. Few days later, Korea’s finance minister said they have no plans to shut down cryptocurrency trading. A policy does not change that fast. From the source of the inner circle of Korea government blockchain committee, Korea never has a plan to ban crypto. The incident was a pure political move. A fight between 2 camps in a government.
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Venezuela – On 20th February 2018, Venezuela launched the presale of its own oil-backed token. But just 1 month before the launch, the Venezuela’s congress declared petro-crypto was illegal. The congress still holds the same position.
Kazakhstan - On 30th March 2018, the National Bank of Kazakhstan said they will ban crypto trading and mining. Until the present day, as far as I understand, Astana Financial Services Authority (AFSA) of Kazakhstan is still promoting their jurisdiction for crypto businesses.

​From what I have seen, it wasn’t the government who is fighting against crypto, it is just people fighting against people. Crypto is merely a mean, not an end. Just like gun itself doesn’t kill, it is the people to do the killing. Crypto is not a wrongdoer, human being is.