“If your government is fearful of individual control of money and financial privacy, you should really take a closer look at your government and its priorities.” Andreas Antonopoulos
It looks like the article about governments moving to make private crypto wallets illegal was just a case of good old FUD. But in the wake of China recently banning crypto for the 173rd time and general crypto FUD news stories circulating in mainstream media (CRYPTOCURRENCY USED TO FUND TERRORISM) it's natural that perhaps some people are worried about the possibility of increasing governmental regulations/crackdowns on cryptocurrencies in the future (i.e. "Will privacy coins be made illegal?"; people feeling apprehensive over the fact that an increasing number of banks in the UK are not allowing deposits to certain crypto exchanges "in order to protect you"- god bless the bankers and their hearts of gold!)
With that in mind, I'd like to share this quote from Andreas Antonopoulos about how thanks to crypto, an individual can now have control over their own money and financial privacy if they choose to, and what it implies if your government has a problem with that:
Some societies will be more comfortable with the idea that individuals have ultimate control over their money and more accepting of self-determination, freedom of association, and freedom of expression. Some societies will not.
Since the 1970’s money has become more and more digital. For many governments, this holds the promise of enabling greater levels of control and surveillance over the financial activities of the entire world; however, that dream ended with the introduction of bitcoin, as it offers an escape hatch from the surveilled and controlled straight-jacket of modern banking. Bitcoin thus becomes a litmus test.
If your government is fearful of individual control of money and financial privacy, you should really take a closer look at your government and its priorities.
(This was taken from an interview back in 2016. Here is the full interview for anyone interested.)