The Reason Governments Are Limiting Access To Cryptocurrencie
Dec 04, 2017
This is a guest post by Chris San Filippo Cryptocurrency use is exploding all over the world. It is seeing rapid growth for a number of reasons, but the biggest is that it provides a level of privacy that can’t be matched. Current financial transactions track a wide range of data about you. This data can be viewed by financial institutions, third parties, and even government agents. The data from your financial transactions can be used to identify you, embarrass you, or for other nefarious purposes. Governments want to have this information so that they can make sure that their tax base remains stable and certain individuals are always identifiable. That’s why they are so worked up about cryptocurrencies.
Cryptocurrencies flip the entire system on its head. They allow users to make anonymous transactions, where they are unable to be tracked or identified by financial institutions, third parties, or government actors. Cryptocurrencies have become infamous for financial speculation, but their true value is in the anonymity they provide with transactions. That is why governments around the world have begun to use geo-location restrictions to block access to forums, exchanges, and other cryptocurrency related sites. The good news is that there is an easy way around these restrictions.