| ▲ | FabHK 2 days ago | |
Sure, but fiat is indispensable to running a modern economy. And the abuses that occur, of course, are curbed by vigorous regulation and enforcement. Sure, HSBC laundered money for the Mexican cartels. When it came out, it was a big scandal, they were fined, and the money laundering was stopped. Crypto is entirely dispensable. It is pseudonymous, by design resists regulation, and has no enforcement. Some chains are deliberately opaque (Monero, Zcash), and there are tumblers to obscure flows even further. Its approach to money laundering is "sure, bring it on". Fiat is indispensable, and better for legitimate purposes than crime. Crypto is dispensable, and better for crime than legitimate purposes. We should dispense with it. | ||