Governments do not react well to threats to their center of control. As of November 2017 there are roughly 1340 cryptocurrencies with a market capitalisation of roughly $450 Billion (when we first published this piece in June it was $114 Billion) of which Bitcoin makes up about 62%. So, it is no surprise that governments are becoming more vocal and putting together tasks forces on how to deal with it.

The bankers seem to be even more worried. They don’t take kindly to non centralised competitors moving in on their turf. After all, they wield an enormous amount of influence and make staggering amounts of profits.

As cryptocurrencies are now gaining more exposure and interest among the general public, bankers are now becoming more fond of government regulators. It is the hope of the bankers that the government will try and regulate the cryptocurrencies out of existence should they become too menacing.