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It appears to me that the trouble with building an exchange isn't the software, but the securities regulations involved in running one. Woe to they who attempt
by Fej 9y ago
It appears to me that the trouble with building an exchange isn't the software, but the securities regulations involved in running one.
Woe to they who attempt to do so without counsel.
- jboggan 9y agoAbsolutely, speaking as someone who built an exchange and spent a lot of time trying to figure out a legal route to operate it (I coded, my co-founder was a lawyer). A friend of mine built a very similar product and opened his doors while we were still hesitant, and this happened: http://www.cftc.gov/PressRoom/PressReleases/pr7231-15 http://www.cftc.gov/PressRoom/PressReleases/pr7231-15
- csomar 9y agoCan't you incorporate in an off-shore jurisdiction?
- ColanR 9y agoprobably super illegal to operate from offshore in the US.
- siberianbear 9y agoThat strategy didn't work for Liberty Reserve, which was in Costa Rica. If Uncle Sam doesn't like what you're doing, he'll find you wherever you are and get you somehow. https://en.wikipedia.org/wiki/Liberty_Reserve https://en.wikipedia.org/wiki/Liberty_Reserve
- jboggan 9y agoNot if you want to ever set foot in the US again. If the SEC/CFTC really wants to nab you, they will. There's almost no way to prevent Americans from using your service and once they do you are wide open to any prosecutor worth their salt.