We Must Regulate Crypto As It Exists Today
Introduction
On October 31, 2008, Satoshi Nakamoto released the white paper introducing the world to Bitcoin. The problem for crypto enthusiasts is that Bitcoin today bears no resemblance to Bitcoin as Nakamoto envisioned it 17 years ago. Other cryptocurrencies bear even less resemblance.
Nakamoto wanted to create a way for “payments to be sent directly from one party to another without going through a financial institution.” Although it is possible for Bitcoin to be used in this manner, this is not how Bitcoin is primarily used today. Instead, Bitcoin is primarily used as a speculative investment. Other cryptocurrencies are almost exclusively used as a speculative investment. Perhaps most revealing, financial…
