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An essential point to bear in mind in these crimes: each one involves a victim who is, crucially, not a willing participant. People who participate in buying or
by olalonde 3y ago
An essential point to bear in mind in these crimes: each one involves a victim who is, crucially, not a willing participant. People who participate in buying or selling cryptocurrency are willing participants.
- JumpCrisscross 3y ago> Bribing the court >> each one involves a victim who is, crucially, not a willing participant. People who participate in buying or selling cryptocurrency are willing participants. The corrupt judge and barrister are very much willing. The negative effect is borne by a third party. Same with crypto. The buyer and seller are happy as can be. Then the rest of us have to pay to investigate, extradite, charge and liquidate Bankman-Fried and FTX.
- olalonde 3y agoSBF and FTX were charged for bribery and fraud, there were victims.
- shkkmo 3y agoYes, I listed categories where the linkage to unwilling victims was clear to make my point. Cryptocurrency has unwilling victims as well, but the linkage between cryptocurrency buyers and ransomware sellers is much less direct If you want a closer analogy, gambling is also something that happens between willing participants and is almost universally either regulated or outlawed. There are some good arguments that we need clearer, better regulations for cryptocurrency exchanges and a lower barrier of entry for low income/asset investors into securities. However, some level of regulation of cryptocurrency is clearly required and is not out of step how we handle other parts of the economy.