Hello all hope you are all well today.
Today I will be talking about my thoughts on the way crypto can be used negatively.
Crypto has been written off by many media sources due to its difficulty to trace so the criminal underworld have adopted this currency to get away with having to use cash something that is traceable.
Also many banks mock crypto for this as they are linked to criminals but they cleverly hide the fact that the banks also have links to criminal activity. HSBC a UK bank has apparently had links to the Mexican cartel.
I don't know how criminals are using crypto. Many people say it is used to buy drugs but if I was to offer a local dealer in my area a nice bit of bitcoin or Ethereum for some of his special products I would probably end up getting stabbed. So the low level street dealers are not all using crypto so it must be higher up in the criminal world.
The issue is that governments fear how much freedom crypto offers people and they could abuse it so instantly governments want to regulate it which will just ruin the point of crypto.
So should it be regulated to stop criminals? Well criminals will always operate they did fine without crypto before if it gets regulated they will just find a new way especially the high level criminals.
Thank you for reading my blog post. Hope u enjoyed it.
