Cat and Mouse Game: China's Cryptocurrency Regulations and Cryptocurrency Cyber-Crime

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Presented at CODEBLUE2018@TOKYO 2018 by

Mei Nelson

Technological innovation, and related government regulations often have ambiguous effects. In most cases, governments would like to embrace and encourage new technologies while maintaining some control over their use. However, government regulations can also have a stifling effect on the development of new technologies, as well as creating opportunities for criminals seeking financial gain. Cryptocurrency and related technologies are one set of technological innovations that proponents say will bring great benefit to local and global economies. In the meantime, however, cryptocurrency-related cyber-crime has trended upward. This talk will examine how government regulations on cryptocurrency influence cryptocurrency-related cyber-crime, using a case study of Chinese government cryptocurrency regulations from 2013 to 2018 and the evolution of cryptocurrency- related cyber-crime in the same period. It will offer broader insight into the correlation between government regulations and overall cyber-crime in the Chinese political, social, and cultural context.The talk will also reflect on the future direction of cryptocurrency-related cyber-crime in China in the currently tightened regulatory environment. Lastly, the talk will conclude by offering high-level, pragmatic mitigations for public and private organizations to counter cryptocurrency-related cyber-crime.