John McAfee: crypto exchanges not responsible for criminal users

Posted 13 November, 2019

Like a majority of other digital technologies, Bitcoin and cryptocurrencies have been used by criminals for criminal activity. It should come as no surprise then that the world’s authorities are forcing digital asset exchanges and service providers to deter crimes on their platforms. John McAfee is out with yet another cryptocurrency-related remark. The former security-guru recently went on to argue that cryptocurrency firms should not need to accept the responsibility of overseeing the entire sector.

The technologist said in a recent interview that cryptocurrency exchanges and their ilk shouldn’t be responsible for actively combating crime. McAfee said that government officials expecting cryptocurrency firms to police criminal activity are being irrational:

”You can’t put that responsibility on me as an entrepreneur. You can’t require me to assist you in preventing what might be a future crime.”

According to the expert, the authorities should pay attention to the activities of the criminal groups themselves, and not to the tools that they use.

“Societal impact of giving people freedom from an overburden and corrupted government” through cryptocurrencies and blockchain outweighs “what small part criminals are going to play in this technology.” - he said.

The number of cryptocurrency crimes over the past few years has increased significantly. Against the background of the emergence of new less secure projects, attackers began to use them as a means of calculation. Hackers hack databases with important documentation, after which they demand a ransom in digital assets to restore access to them.


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17 November, 2019

Modilak from American Samoa

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