Governments’ and regulators’ first instinct is to try to regulate everything, even the unregulatable. And that applies to most things online. Yes, Facebook, but especially cryptocurrencies, or Bitcoin, to use their now-generic Hoover name. Tackling demand rather than supply, reminding punters hoping to get rich quick that HMRC will want their share of the booty, may well be key. Far easier than trying to find the guys putting algorithms together in dark corners of the web, or tracking the murky money being laundered in other dark places. And, of course, paying the compensation which always seems to go hand in hand with regulation.
“US Justice’s largest ever financial seizure sees two arrests over $3.6bn stolen crypto”
I make a point of never recommending anything which is a)unregulated or b) I don’t understand and can’t explain. And here’s proof, were it ever needed, that crypto-bitcoins fall firmly into both categories…
