"Crypto is finance without borders" is not a positive statement.
Borders are important for security. Especially because states have varying degrees of ill-intent towards each other's citizens.
But more important than borders is jurisdiction of regulators. At least a significant portion of crimes are also evil. Lack of regulation really helps those evil things happen. Generally financial regulation is one of the more effective forms of crime prevention.
There's certainly regulation so stupid it almost reaches malice. There's probably regulation that is intentionally malicious. That needs to be solved, but solving it by saying 'only regulation as the cryptocurrencies currently allow' throws out way too much regulation. It lets too many evil things all of a sudden happen.
> Especially because states have varying degrees of ill-intent towards each other's citizens.
I think the major risk crypto people see is not other states, but their own state.
> At least a significant portion of crimes are also evil.
Likewise, a portion of non-crimes is evil. For example money printing. And it's huge, we're talking trillions.
The same trillions that can't be traced once they enter the Pentagon.
Generally, there seems to no longer be a moral authority the state wields, crimes and evil decoupled a long time ago, and people now see that they can choose who fleeces them and how.
The single issue is that real world has borders in the form of nation-state borders and barriers (regulations) to the money transfer between entities. Crypto does not, and this leads to a conflict.
I am personally all in for a no-borders real world as long as there are no states which don’t believe in my ideology. But such a thing is utopia and doesn’t exist yet.
Borders are important for the security of governments, and very little else. A reminder that passports and mandatory travel restrictions outside of a few countries didn't come into existence till WWI.
Border enforcement by governments as a whole has caused more death and human suffering than literally any other action by any nation state in the world.
But more important than borders is jurisdiction of regulators. At least a significant portion of crimes are also evil. Lack of regulation really helps those evil things happen. Generally financial regulation is one of the more effective forms of crime prevention.
There's certainly regulation so stupid it almost reaches malice. There's probably regulation that is intentionally malicious. That needs to be solved, but solving it by saying 'only regulation as the cryptocurrencies currently allow' throws out way too much regulation. It lets too many evil things all of a sudden happen.