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Pretty late and how will they deal with location independent companies like Binance? The CEO is more or less permanently on the lam.

by yawaworht1978 5y ago

sadfasdfsad 5y ago
> The CEO is more or less permanently on the lam. Source?
digianarchist 5y ago
Binance isn't location independent. They're incorporated in the Caymans.
wyager 5y ago
The EU regularly fines companies that don’t even have a business entity in the EU so I doubt they’re worried about it.
- meltedcapacitor 5y ago
  Yes, theoretically. Has it actually happened in practice? Did they pay? (All cases I can find are either local EU companies or large multinationals who do have boots on the ground in the EU.)
peteretep 5y ago
> location independent companies That’s not a real thing
- knownjorbist 5y ago
  How is it not? A DAO with with the right setup would require international collaboration to extradite all the members and coerce them to unlock their holdings
  - meltedcapacitor 5y ago
    Yes sure but most existing crypto players want to be able to drive their Lambo to a nice restaurant in San Francisco or London, not have to live in a cave in Belarus or Haiti as a fugitive from the civilised world.
    - yawaworht1978 5y ago
      Well, but not this CEO, and if this site is to be believed, he is just a public strawman. https://scambinance.com/investigations/131-who-owns-binance-casino-guangying-chen-heina-chen-or-changpeng-zhao.html https://scambinance.com/investigations/131-who-owns-binance-...
    - ulzeraj 5y ago
      I'm going to be honest with you but considering last time I've visited SF I'd take a nice Belarusian cave in a heartbeat.
  - peteretep 5y ago
    because a company is a legal entity and a DAO is a cryptographic slot machine. A DAO is no more a company than my 10 year old nephew’s gang is a company, although there exist similarly arcane rules, a complex voting system, and a great deal of wishful thinking in both. Could you turn a DAO into a company? Sure, if you incorporated it, but that requires a country to incorporate it in.
ForHackernews 5y ago
Human beings are not "location independent". They will arrest the humans who run the companies.
lxgr 5y ago
All crypto on- and offramps are by definition connected to the regulated banking infrastructure. If customers can‘t deposit or withdraw money to an exchange, that makes the exchange effectively inaccessible to customers in that jurisdiction.

Pretty late and how will they deal with location independent companies like Binance? The CEO is more or less permanently on the lam.

sadfasdfsad 5y ago

> The CEO is more or less permanently on the lam. Source?

digianarchist 5y ago

Binance isn't location independent. They're incorporated in the Caymans.

wyager 5y ago

The EU regularly fines companies that don’t even have a business entity in the EU so I doubt they’re worried about it.

meltedcapacitor 5y ago
Yes, theoretically. Has it actually happened in practice? Did they pay? (All cases I can find are either local EU companies or large multinationals who do have boots on the ground in the EU.)

peteretep 5y ago

> location independent companies That’s not a real thing

knownjorbist 5y ago
How is it not? A DAO with with the right setup would require international collaboration to extradite all the members and coerce them to unlock their holdings
- meltedcapacitor 5y ago
  Yes sure but most existing crypto players want to be able to drive their Lambo to a nice restaurant in San Francisco or London, not have to live in a cave in Belarus or Haiti as a fugitive from the civilised world.
  - yawaworht1978 5y ago
    Well, but not this CEO, and if this site is to be believed, he is just a public strawman. https://scambinance.com/investigations/131-who-owns-binance-casino-guangying-chen-heina-chen-or-changpeng-zhao.html https://scambinance.com/investigations/131-who-owns-binance-...
  - ulzeraj 5y ago
    I'm going to be honest with you but considering last time I've visited SF I'd take a nice Belarusian cave in a heartbeat.
- peteretep 5y ago
  because a company is a legal entity and a DAO is a cryptographic slot machine. A DAO is no more a company than my 10 year old nephew’s gang is a company, although there exist similarly arcane rules, a complex voting system, and a great deal of wishful thinking in both. Could you turn a DAO into a company? Sure, if you incorporated it, but that requires a country to incorporate it in.

ForHackernews 5y ago

Human beings are not "location independent". They will arrest the humans who run the companies.

lxgr 5y ago

All crypto on- and offramps are by definition connected to the regulated banking infrastructure. If customers can‘t deposit or withdraw money to an exchange, that makes the exchange effectively inaccessible to customers in that jurisdiction.