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I guess it's maybe not the case but it does feel like the US are doing everything to support trading only on the local and more limited Coinbase. Binance has a

by Tenoke 6y ago

I guess it's maybe not the case but it does feel like the US are doing everything to support trading only on the local and more limited Coinbase. Binance has already went as far as to forbid US customers from using them, make a much worse but compliant US-only exchange, go as far as they can in finding VPN users and others who subvert the rules, hired a US senator to help them, and the US is still making more moves against them. The situation in the US is already really tedious if you want to invest in many big (top 10, even top 5 projects) and to trade in general in some states. It's disappointing to see.

iamacyborg 6y ago
I mean, don't you think it's reasonable for a government to want to ensure that their citizens aren't being ripped off or able to participate in illegal activities?
- Tenoke 6y ago
  Is the implication that (almost?) every other western country wants their citizens to be ripped off because they allow Binance? I don't think it's quite as simple as that..
  - woodruffw 6y ago
    I think the more likely implication is that the US casts a wide shadow over international financial regulations, and that other countries that seek to do business with or in the US will aim to regulate in lockstep with the US. To that extent, waiting until the US fixes a source of fraud is strategically reasonable.
- kemonocode 6y ago
  Surely that's only in the best interest of the people, just like in all the areas a major government has a vested interest in exerting a large amount of control upon. Surely. EDIT: wording
cwkoss 6y ago
Another spin on this situation would be "US is going after any exchange which doesn't comply with US regs/guidance and currently Coinbase is the only exchange willing/able to do so"
- AMerePotato 6y ago
  Maybe the US needs to change it's regulations. It's handling of cryptocurrency is hostile to legitimate use of the technology. The current tax situation being the worst of it in my opinion

by Tenoke 6y ago

iamacyborg 6y ago

I mean, don't you think it's reasonable for a government to want to ensure that their citizens aren't being ripped off or able to participate in illegal activities?

Tenoke 6y ago
Is the implication that (almost?) every other western country wants their citizens to be ripped off because they allow Binance? I don't think it's quite as simple as that..
- woodruffw 6y ago
  I think the more likely implication is that the US casts a wide shadow over international financial regulations, and that other countries that seek to do business with or in the US will aim to regulate in lockstep with the US. To that extent, waiting until the US fixes a source of fraud is strategically reasonable.
kemonocode 6y ago
Surely that's only in the best interest of the people, just like in all the areas a major government has a vested interest in exerting a large amount of control upon. Surely. EDIT: wording

cwkoss 6y ago

Another spin on this situation would be "US is going after any exchange which doesn't comply with US regs/guidance and currently Coinbase is the only exchange willing/able to do so"

AMerePotato 6y ago
Maybe the US needs to change it's regulations. It's handling of cryptocurrency is hostile to legitimate use of the technology. The current tax situation being the worst of it in my opinion