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Regulated crypto defeats the purpose of crypto in the first place. A regulated currency is just your actual fiat currency. But the system is filled with so many
by puranjay 7y ago
Regulated crypto defeats the purpose of crypto in the first place. A regulated currency is just your actual fiat currency. But the system is filled with so many bad actors that I don't see any way out but regulation.
- close04 7y agoRegulating securities didn’t turn them into fiat money so I’d say regulation isn’t incompatible with the intrinsic characteristics of crypto. And I’m sure a few tens (hundreds?) of thousands of users of QuadrigaCX’s users wouldn’t have too many qualms with regulated crypto right about now... Crypto is about decentralization and reliance on strong cryptography. There’s nothing in the definition that rejects regulation. It’s mostly people’s misconception that crypto is just a means to “fight the power”. And it’s not even the currency itself that has to be regulated, it the entities that want to deal with it, like your shady exchange that has no transparency or accountability. They didn’t play with financial instruments after all.
- deleted 7y ago[deleted]