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Ransomware used moneypak and other prepaid cards for years before switching to crypto. And there is literally no one to fine because no one owns the “ledger”.
by jordansmith 5y ago
Ransomware used moneypak and other prepaid cards for years before switching to crypto.
And there is literally no one to fine because no one owns the “ledger”. That’s the joy of a decentralized blockchain
- Pfhreak 5y agoYou could outlaw or regulate the mining and use of the coin in a country. It wouldn't be easy to enforce, but you could certainly but the law on the record. You could increase taxes on cryptocurrency capital gains. Big exchanges would absolutely report those gains to the IRS and you could be on the hook for a bigger bill. It's not impossible to regulate this stuff. Yes, some folks will figure out ways around the regulations, but you'd catch most tech-unsavvy people just fine.
- dmos62 5y agoI think there are many problems with what you said, but if all that is just to catch the tech-unsavvy people, that excludes organized crime.
- NullPrefix 5y agoLaws don't target organized crime. Well organized crime influences the law so it would target regular people and politicians could say they are tough on crime.
- Pfhreak 5y agoI mean maybe, but tax evasion put Al Capone in Alcatraz.
- dmos62 5y agoBut you wouldn't introduce taxation to target organized crime.
- 8note 5y agoYou could imprison anyone that posts a ledger that includes that transaction. You need some intergovernmental agreements, but it's possible