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Should Bitcoin be Blamed for Every Crypto-involved Criminal Acts?

By Tracy Hannes | February 3, 2019
Should Bitcoin be Blamed for Every Crypto-involved Criminal Acts?

Blockchain technology reputation has been tainted by criminals taking advantage of the cryptocurrency platform to perform illegal acts. However, cryptocurrency, or Bitcoin, in particular, is not to blame for all the criminal activities happened.

Social media appears to make Bitcoin look like a bad guy by over-exaggerating its role whenever cryptocurrency is involved in illegal activities. One popular case was a report about a nurse arrested in California for trading drugs for Bitcoin. Rather than focusing on the amount of drug confiscated or that the criminal is a medical officer, the author called out Bitcoin when it was only a mean of payment like cash.

Over the years, industry giants such as the Intercontinental Exchange and Fidelity have put in great efforts to prove Bitcoin a valuable financial asset which can greatly contribute to the society. The people who commit foul acts are the one responsible for the consequences, not the means or the tools used.

 

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