4 ms·

> maybe regulation could incentivize better data protection practices and pro-consumer behavior. Perhaps I am too cynical but given Equifax is still fresh on m

• kregasaurusrex 9y ago
  While Equifax is a quasi-governmental company that's privately traded; fully private companies that are regulated in the space are required under the umbrella watch of FINRA/SEC regulations. In the past[1], they have not had any problem with levying 7 figure fines against organizations that are outside of data compliance. Taxing cryptocurrencies will likely push traders who want a greater margin to foreign countries' exchanges; but I see it as a step in the right direction for institutionalizing the practice. I've seen a posts across multiple subreddits where people want to start trading these purely as investment vehicles rather than use the underlying technology. With an influx of ideologies working both with and against one another, a lot of ordinary people can get harmed from the wild-west environment and volatility associated with it. [1]https://www.sec.gov/news/pressrelease/2016-112.html https://www.sec.gov/news/pressrelease/2016-112.html