Blog > Law & Regulation


By Craig Wright | 30 Jul 2019 | Alternative Coins & Systems

In reality, life can be complex. Contradictions exist because humans are messy. There is a quote by Ayn Rand that I like, even though it’s not technically correct:

”Contradictions do not exist. Whenever you think you are facing a contradiction, check your premises. You will find that one of them is wrong.”

In maths, we know that the statement is correct, but the world is not mathematics, and people are not rational. Having said so, whenever a contradiction does exist, we know that we do need to check our premises. What we find is that there is something amiss.

What I’d like you to think about is very simple: I am being painted as a fraud and a criminal by people who opposed me and my ideals. My ideals involve delivering an immutable evidence chain that will record transactions and make fraud difficult. On the other hand, we have people who promote anarchy and crime.

Let’s have a look at some of the key detractors:

Greg Maxwell was involved in AntiSec, and helped with the theft of thousands of copyrighted documents and other intellectual property. He broke into computer systems, altered records, and released such stolen information to the world. Yet he calls for me to be imprisoned as he claims I altered records.

Roger Ver is seeking to create Dark Web markets, and was an early promoter and proponent of Silk Road. He had been imprisoned for selling explosives and for fraudulently signing a declaration saying that they had not been explosives amongst other things. He is promoting systems that will allow anarchy, drug markets, assassination markets, and crime generally. Yet he calls me a fraud. Why? As I do not support the false assertion that a money that was designed not to be anonymous and that leaves an immutable evidence trail which is admissible in court is supposed to aid darknet markets and take down the state. Never in a single post as Satoshi did I ever say that Bitcoin was against government, nor did I say that it was anti-bank. Cash and banking are separate things.

Vitalik Buterin has been behind the creation of the biggest Ponzi market and scheme of the decade — with ICOs that have extracted billions of dollars from unwary individuals. Such ratios were created with the sole purpose of allowing people to bypass regulatory control and to extract money from individuals who would not be allowed to generally trade as they are uninformed and unsophisticated investors. Vitalik calls it democratising finance — a term generally used when people seek to dupe the uninformed. He calls BSV a scam as we seek to work within government and regulatory controls.

CZ of Binance and individuals associated with him run one of the biggest money-laundering operations in the public world, and seek to allow individuals to easily launder money using cryptocurrency. He calls me a fraud because I seek to add KYC and AML requirements to Bitcoin and other exchanges.

Effectively, such people call me a fraud because I’m willing to work within a regulatory framework. The people opposing me seek a system that allows drug markets and crime.

What is interesting is that the same individuals and practically everyone opposing me seek to create a system that allows illegal activities to occur with impunity. I’m seeking a system that works within the justice system and law. Which one seems more likely to be the fraud?

Note: A previous version of the post was formerly published on CoinGeek here.