John McAfee is known for his constant support for the crypto community and the views he has to offer on how and why the governments are not supporting the cryptocurrencies.
He has been in trouble with the government and is hiding away from them, and he has always been very open about his struggles. In this video, John talks about the reasons why the governments fear cryptocurrencies and why they are imposing strict laws and regulations on them.
He mentions how recently Germany is asking the world governments to ban stable coin and how India has banned the cryptocurrencies and crypto exchanges. Dealing in crypto is considered as a crime in India according to the rules imposed by the government.
He thinks that one of the reasons behind this fear of cryptocurrencies is how they work and how they manipulate certain tax norms. But one of the main reasons, according to him, is the control the government has over fiat currencies. He thinks that this control helps them know about how much money a person has and keeping fiat currencies as the primary source of payment is important for the governments. He mentions how cryptocurrencies provide a private, secure platform for the user and save them from this data and personal information breach and how they are better than the fiat currencies.
Watch him talk about the real reason behind the government’s fear of cryptocurrencies here:
Government 101, Lesson 2 – the real reason that government's fear Cryptocurrencies. pic.twitter.com/WXEn77Yckw
— John McAfee (@officialmcafee) September 23, 2019