Wrong, Crypto is a money laundering fraud operation, from top to bottom...
Even if a player in the space has honest intentions, at the end of the day all he is doing is facilitating money laundering and profiting from it.
The entire industry is a fraud, period.
I am a crypto advocate. I do not want to see any regulation of it and mostly because I do not want to see any trading on any sort of exchange of it. All storage should be decentralized. If you don’t have the key sequence, then you don’t have the bitcoin. Do not entrust it to anyone else at all.
This would eliminate trading and increases in “price”.
The value of crypto is very singular. It opposes government. Period. About 10 years ago the EU forcibly stole money from people on Cyprus, as part of the debacle they forced onto Greece. People on Cyprus were told on a Friday “your money in banks will be confiscated on Monday, and no bank transfers or withdraw will be allowed this weekend.”
If people had money in crypto, they could have fled the country with total portability. Government tyrants would be evaded. Similar realities were faced by Jewish businessmen in 1930s Germany. They were desperate to get assets out of the country, but the government was preventing it.
Does this translate into “laundering”? Yes. And that’s a good thing. Criminals can do this? Those Jews in Germany were declared criminals. Many of them could not get out and faced the concentration camps because there was no way to fund life for their families escape. If they had crypto, those families could have accessed money at a new locale.
Is crypto complicating anti drug efforts? Probably. So have law enforcement work on that, without denying bitcoin to decent people escaping government horrors, which do happen.