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Wait there's many examples of regulation overtly benefitting society and protecting its citizens from the harm of greedy corporations. Environmental protections
by thethimble 9y ago
Wait there's many examples of regulation overtly benefitting society and protecting its citizens from the harm of greedy corporations. Environmental protections, safety protections, financial/solvency protections, health/drug protections, etc... Surely, it's not "regulation" that's the enemy.
What's stopping bad actors from foregoing these protections in an unregulated/decentralized world? The perfect example of this is what's going on with frivolous ICOs and crypto exchange "breaches" where consumers are losing because their ordinary consumer protections are not being enforced.
- proofofmoon 9y agoWe need to balance consumer protection with chilling effects on innovation. If regulators had applied strict interpretations of securities law to cryptoassets and exchanges, only accredited investors would have been allowed to invest and only big banks could have afforded to comply with exchange regulations.