It is very important to design and implement crypto regulations thoughtfully, ensuring that they do not unduly restrict the evolution of the technology and compromise the principle of openness and decentralization of crypto, crypto regulations cannot completely prevent criminals from using cryptocurrencies like Bitcoin. Criminals used other forms of cash finance and other traditional financial systems before the advent of crypto. Crypto can be used to create financial transactions of unknown origin and hide large amounts of money.
Crypto regulations can help prevent money laundering and illegal financial activity by requiring crypto exchanges to maintain KYC rules and coordinate with anti-money laundering agencies in detecting and preventing suspicious activity. Careful regulation and oversight can help prevent fraudulent activities, market manipulation, and crypto value inflation. This can ensure the stability and reliability of the cryptocurrency market, attracting sustained participation and investment.
However, in my opinion, criminals are more interested in using cash. Cryptocurrencies are characterized by the fact that they run on a blockchain. And, as you know, on a blockchain you can track all transactions, even if the transactions are mixed. Therefore, saying that cryptocurrencies are used by criminal structures and therefore they should be banned are words that should not be heeded
Come on, it's just an exaggerated story.
In this case, I do not deny that there is a crime that originates from fraud or allows robbery by coercion of wallet seizures and hacks, but this is only a small part of the majority of existing crimes.
This is just one way to weaken and of course what is being targeted in this case is bitcoin which is indeed the most difficult to stop its movements. but of course we also can't make conditions better because crime is always there wherever and whenever there is an opportunity. but what must be considered in this case is not about bitcoin or its blockchain because indeed this thing bitcoin and blockchain are only objects that they target does not mean that it is a bad thing that exists because it is irresponsible people who make this bad.
Agree with that, I mean bitcoin was just some kind of tool that is used in some illegal transactions and that doesnt mean that Bitcoin is a bad thing that is illegal to use something like that. Criminals are just taking advantage of what Bitcoin can do but most of the time you don't really need to worry about this kind of thing, I mean I've been buying and selling Bitcoin for years and didn't really encounter problems that are related to these illegal transactions. I heard some cases where on centralized platforms where they encounter some problem because the banks or platform have issues where your Bitcoin or funds came from, but not to the point where they confiscated or freeze your account and you cannot get your funds anymore. If you didn't really do anything illegal at all you don't need to worry about these things.
I guess we can't really prevent this kind of thing I mean fiat money is used in illegal transactions as well, it was just the nature of Bitcoin for sure when it comes to regulation there will be a lot of complications since Bitcoin in my opinion was not supposed to be regulated because its a decentralized.
