Re:Binance US No Longer Allows USD Withdrawal for Users
by sjsdaiuasgdia on Wednesday October 18, 2023 @01:12PM
(#37931642)
>The next question naturally then is why don't we shut them down?
TBH I think one of the larger reasons why authorities haven't taken more aggressive action against cryptocurrency blockchains is the "prosecution futures" aspect. The capabilities of the system attract illegal use, and truly staying unidentified requires really tight opsec. This gets even harder if you want to be able to pull some value back into traditional currency anywhere in the process.
It is effectively a distributed honeypot the authorities don't even have to run themselves.
People usually qualify this with "moral" or "legal" uses -- crypto currencies are absolutely useful for tax evasion and moving money across borders illegally -- it's why many people use them. It's these exact qualities that draw in the 'scammers' and 'get rich guys' as well. So it absolutely has real world uses just ones you don't like. The next question naturally then is why don't we shut them down? Now you can see how powerful they actually are because they're aren't fragile either and very persistent.