3 ms·
Unfortunately cryptocurrency regulations are anything but clear and obvious. This is a new frontier and operating with an abundance of caution is of paramount i
by josh2600 6y ago
Unfortunately cryptocurrency regulations are anything but clear and obvious. This is a new frontier and operating with an abundance of caution is of paramount importance. We respect the hard work all of the regulators are doing trying to figure out this new world.
We're all doing our best to work within the constraints.
- Imnimo 6y agoYeah but like, what if you find out that you can't distribute the remaining coins in a compliant way? Wouldn't that be something that should have been determined before all the work to integrate with Signal was done? It just feels like if that were a true priority, it wouldn't be in the "implement first, figure the rest out later" category. Even if it's a complicated question.
- josh2600 6y agoI can assure you that we have the best minds in the regulatory and legal worlds thinking about this and there just isn't a lot of regulatory clarity. If you had told me that 4 years after I started MobileCoin we still wouldn't have guidelines on how to issue a cryptocurrency in the US I would've told you that you were insane, yet here we are. This isn't to point fingers at the regulators, I really think they have a humongous task before them; regulating cryptocurrency is the institutional challenge of a lifetime. We want to make sure we operate out of an abundance of caution. Correctness is more important than speed.