- McKenzie went on to argue that the proposed decentralized structure of cryptocurrency — and the proud insistence of many advocates that losing money in crypto stemmed from investors’ failure to do their own research — actually opened the door for more potential fraud rather than less.
- “Be careful what you wish for,” he warned.
- “The simple truth is that in an unregulated market, at every juncture where value is transferred from one party to another, not only is there nothing preventing one or more parties from committing fraud, there is often very little even disincentivizing them from doing so. If you can rip people off and get away with it, why not do it?”
