Precisely. It is what you usually see pushed by critics like web3isgoinggreat, Stephen Diehl (CTO of blockchain startup Adjoint), and many more to hype up the uninformed for their ultimate goal of banning all of them, which isn't realistic; otherwise it would have happened along time ago.
While we have seen a scammer like Do Kwon getting reported to the authorities by his on employees to the SEC, it proves that the regulators are not going to sit around and let him get away with it. That is the whole point of why crypto regulations are coming, just like they did for regulating ICOs in 2018.
The same is true when one tries to 'hide' their funds using a blockchain with a transparent ledger or if they are trying to cash out stolen funds to exchanges which regulations have introduced KYC, AML checks on them if the hackers / scammers try to send the hacked funds to custodial wallets.
So in reality, it is getting harder for scammers and criminals to actually cash out the funds and anyone can still technically trace the transactions on these blockchains.
Oh no, web3 is almost purely greed. The entire point is to financialize everything possible and try to make money off of it. It's a truly horrific idea, one that enshrines "those with money make the rules" even moreseo than capitalism does.
reply