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The courts present a large problem though. Most digital crimes happen across borders. Courts are pretty much useless for ransomware, identity theft, and everyth
by dumbfoundded 5y ago
The courts present a large problem though. Most digital crimes happen across borders. Courts are pretty much useless for ransomware, identity theft, and everything else online when the criminals are in an inconvenient jurisdiction.
Blockchain if anything shows the failure of our judicial system. Most of the cybercrimes are enabled by cryptocurrency and our justice system is hopeless to stop these payments.
- arcticbull 5y agoNah, they can just ban exchanging fiat for crypto and the problem goes away. It's a lack of political will, not means.
- cyberge99 5y agoWho is “they”? What jurisdiction?
- arcticbull 5y agoThe country in which businesses are being targeted. Crypto is a payment implement for crime. If the US outlaws buying crypto, companies in the US can't pay their ransomware bills and so will no longer be targeted.
- dumbfoundded 5y agoI don't think you can put this genie back in the bottle. The US is a corporation cooperative and the banks are already in crypto and only raising their holdings. Even if the US bans it, it just moves the market more into the dark. Ransomware will still happen and still require crypto payment. The only difference is the hoops companies will do to acquire this crypto in a semi-legal way (probably by using multinational entities to route payments).
- knownjorbist 5y agoThat would be a gift to every other country that doesn't follow suit.
- arcticbull 5y agoThat would be devastating to any country that doesn't follow suit. They would be the ones targeted by ransomware. So not only would they get all the ransomware attacks, they would also get all the negative value crypto creates. Since it doesn't create any positive value, that would be an excellent big brain move.
- sebyx07 5y agocrypto will eventually win, because governments around the world are printing fiat like venezuela