Should crypto/blockchain firms be held responsible when it comes to stopping crypto crimes?
Should crypto/blockchain firms be held responsible when it comes to stopping crypto crimes? Tech Personality, John Mcafee doesn't think so! https://cointelegraph.com/news/john-mcafee-authorities-should-not-expect-crypto-firms-to-stop-crypto-crimes
I think to an extent it is the responsibility of the firm to take action that limits or prevents their platform being used for illicit activities. It is a mutual responsibility for every firm that is a part of the economic ecosystem to take actions within their own spheres' of influence to prevent societal evils. That being said, such activities tend to prevail even under the most heavily regulated markets (and firms), which ultimately becomes a reputation-hazard or bad press, and no one really wants that. It's a trade off between reducing friction in accessibility to digital payment channels and enacting measures to ensure reliable KYC protocols that every involved firm needs to carefully evaluate. My verdict: I wouldn't go outright blaming the firm itself for malignant use of their service, but would definitely advocate actions taken to curb them.
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