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I guess i would refer you to the brief period of time where cryptocurrencies were skirting these regulations. I'm sympathetic to the argument that there was so
by airza 6y ago
I guess i would refer you to the brief period of time where cryptocurrencies were skirting these regulations. I'm sympathetic to the argument that there was some value created there, but hoo boy, a lot of people lost a considerable portion of their life savings there.
- chrisco255 6y agoA lot of people have gotten life-changingly rich from crypto investments. Bitcoin is already the best performing asset class of all time, and has minted plenty of millionaires.
- tboyd47 6y agoHow many people lost money in cryptocurrency scams compared to the entirely legal and rule-following housing market crash of 2008?
- bpt3 6y agoMuch of the losses in 2008 were caused by illegal and non-rule-following activity.
- DetroitThrow 6y agoImportantly we also implemented several new schemes to ensure that we were better able to evaluate illegal and non-rule-following activities after 2008 as well.
- bpt3 6y agoRight, this is the sort of regulation that people are now complaining about in the securities market because a long time has passed since it was originally enacted.
- baryphonic 6y agoSince there was so much illegal activity, who went to jail?
- bpt3 6y agoHere's the list: https://ig.ft.com/jailed-bankers/ https://ig.ft.com/jailed-bankers/ Here's a good analysis of why more people didn't go to jail: https://www.theatlantic.com/magazine/archive/2015/09/how-wall-streets-bankers-stayed-out-of-jail/399368/ https://www.theatlantic.com/magazine/archive/2015/09/how-wal... Lack of successful prosecution doesn't mean that illegal activity didn't occur. Are you ticketed every time you drive over the speed limit? I'm not.