Detractors of Cryptocurrency make frequent habit of mentioning its potential to be exploited by unscrupulous individuals and criminal organisations. Owing to the anonymity afforded to the users of Crypto, the fear of facilitating money laundering and trade in illicit goods and services is a very palpable one.
We need only look to Bitcoin’s usage on the Silk Road (an online marketplace, embedded in the ‘deep net’, primarily used for buying and selling narcotics) to realise that the currency has been, and is being used for criminal enterprise. Some have argued that this represents a necessity for Cryptocurrencies to be centralised and regulated by monetary authorities and banks; An insultingly simplistic solution to a complex situation...
Read more at:
http://www.coinchilli.com/cryptocurrency-and-the-underworld/J.C Axe
