Crypto

Letter: Crypto is a haven for bad actors like North Korea

Your talk on how North Korea funds its missile program through cybercrime and crypto did that for me (“How North Korea Became a Hub for Crypto Crime”, great read, November 15). The FTX saga has already illustrated the lack of oversight and regulation of the industry, combined with the ease of creating conflicting interests.

These defects are serious and expose operators to significant losses. The creation of crypto “currencies” solved a problem that hardly exists given the efficiency of central bank-created fiat currencies and associated transmission mechanisms.

The fact that crypto is untraceable makes it a paradise for bad actors. Whatever insignificant advantages crypto generates, they are completely outweighed by the very obvious disadvantages. It’s time to kill him.

Stephen Kingsley
London W8, UK

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