Cryptocurrencies Must Be Regulated

The greatest vehicle for wreaking havoc is money without provenance. Therefore, terrorists rob banks, drug cartels go to exceptional ends to launder their moniesand billionaires use offshore accounts and onshore vehicles to hide the money trail in order to avoid taxes. Cryptocurrencies are clearly the new vehicle of choice for criminals to obscure their financial. The Associated Press story linked below reveals the horrifying means by which white supremacists are using cryptocurrencies to raise funds and to evade the law. Clearly, the criminal web site the Silk Road, which used cryptocurrencies to mask the identities of the criminals it supported, was not an anomaly but a harbinger of the criminality that is supported by cryptocurrencies.

Cryptocurrencies are legal tender only to criminals. They are exotic commodities to the rest of us. By investing in them, we are supporting an exorbitantly energetically wasteful commodity that supports the vilest criminals. This is almost as bad as investing in Facebook.

BRUSSELS (AP) — The Daily Stormer website advocates for the purity of the white race, posts hate-filled, conspiratorial screeds against Blacks, Jews and women and has helped inspire at least three racially motivated murders.

Source: Far-right cryptocurrency follows ideology across borders


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