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In defense of crypto: Why digital currencies deserve a better reputation

Published 03/12/2022, 09:24 AM
Updated 03/12/2022, 11:00 AM
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Ever since its inception and throughout its turbulent journey toward mainstream acceptance, crypto has elicited both enthusiasm and trepidation in equal measure. After the unfair battering it has received over the years, the time has come to defend digital currencies.

Unfortunately for crypto, first impressions count. Bitcoin (BTC) initially gained a tawdry reputation in its early years as the currency of choice for illicit activities — favored by dark web users, ransomware hackers, drug traffickers and money launderers worldwide.

Ian Taylor is the executive director of CryptoUK, an independent industry body that exists as a cohesive, credible voice for the evolving United Kingdom crypto industry. Having spent 20 years in investment banking, he has held many senior roles across trading, treasury and risk management, and is still involved with a major global bank. As executive director of CryptoUK, he has built a community of more than 100 of the most influential industry participants and campaigns for a fit-for-purpose regulatory framework in the U.K., Europe and beyond.

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