Re:Cash payments above €3000 to be outlawed in Netherlands
by LapsangGuzzler on Wednesday August 23, 2023 @11:12AM
(#37237301)
> Will bad people abuse it and do things you don't like? Yeah. That's the risk that comes with it and we have a legal system to identify and deal with those bad actors.
The problem is that things like cryptocurrency are largely designed to circumvent the financial and legal system entirely, which becomes a threat to regulated markets once fraudulent actors become large enough to inevitably become a burden to the legal system (see FTX). The government is spending a lot of money cleaning up the FTX mess and they have an interest in ensuring that it doesn’t happen again.
The problem is that things like cryptocurrency are largely designed to circumvent the financial and legal system entirely, which becomes a threat to regulated markets once fraudulent actors become large enough to inevitably become a burden to the legal system (see FTX). The government is spending a lot of money cleaning up the FTX mess and they have an interest in ensuring that it doesn’t happen again.