Are there any legal and ethical concerns with cryptocurrency? Cryptocurrencies are not accountable to a central authority. The lack of regulation and an accountable central authority is arguably one of the most significant ethical concerns for governments and scholars on cryptocurrencies. It’s a critical reason why several countries have banned Bitcoin.
Can the government track MetaMask? This means they can effectively identify your custodial wallets – like if you’re withdrawing funds to a MetaMask wallet for example. Why does all this matter? Because the IRS can (and have) request data from crypto exchanges in order to ensure tax compliance.
Can I make my own cryptocurrency legal? Creating a cryptocurrency is generally legal, although some countries and jurisdictions have partially or fully banned cryptocurrency. In China, for example, raising money through virtual currencies has been illegal since 2017, and all cryptocurrency transactions have since been banned.
Can the government track crypto? Zoe Thomas: All right, coming up, cryptocurrencies have a reputation for anonymity, but now the government is sending a message to crypto thieves, they can track you down.