Quote
Bitcoin Foundation founding director Jon Matonis has defended the virtual currency during a visit to Auckland, saying it is doing more good than harm despite its popularity with fraudsters.
The virtual currency has come under attack from the executive director of New Zealand cyber-safety organisation NetSafe, Martin Cocker, who has said he personally would not be sad to see Bitcoin's demise.
Because Bitcoin transactions are impossible to trace, they have been favoured by cyber-criminals as a means of payment when extorting money in "ransomware" scams.
The virtual currency has come under attack from the executive director of New Zealand cyber-safety organisation NetSafe, Martin Cocker, who has said he personally would not be sad to see Bitcoin's demise.
Because Bitcoin transactions are impossible to trace, they have been favoured by cyber-criminals as a means of payment when extorting money in "ransomware" scams.
Full story: http://www.stuff.co.nz/business/69193233/bitcoin-foundation-director-jon-martonis-says-new-regulations-go-too-far