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You can downvote all you want, but the fact is that New York is the most restrictive area in the US when it comes to cryptochoice[1][2]. The US in turn, is up
by ROARosen 5y ago
You can downvote all you want, but the fact is that New York is the most restrictive area in the US when it comes to cryptochoice[1][2].
The US in turn, is up there as one of the worst countries for cryptochoice up there with Cuba, Crimea and Sevastopol, Iran, Afghanistan, Syria, North Korea, or Antigua.
(Granted the US is there because of 'legitimate' SEC regulations, but ther is no reason NY should be more restrictive than the feds).
[1] The ability of the indiviual to choose which crypto they want to buy and availability of them
[2] https://help.ftx.com/hc/en-us/articles/360042412652-Location-Restrictions-?__cf_chl_captcha_tk__=pmd_Ub_h1glUvJEjujpqAw96.rrbX2_Gb04S1OIISWV_Pss-1634589602-0-gqNtZGzNA1CjcnBszQh9 https://help.ftx.com/hc/en-us/articles/360042412652-Location...
- woodruffw 5y agoWe're calling rampant securities fraud "cryptochoice" now?
- klyrs 5y agoLike so many moths, angry at the glass, for keeping them away from the lantern's flame...
- meepmorp 5y agothis is so condescending and accurate
- klyrs 5y agoI was aiming for poetic, not condescending... but no apologies. I think fraudsters should be shut down no matter how loudly their victims protest.
- meepmorp 5y agoDon't get me wrong, I see and appreciate the art. Please don't take it as a criticism; don't think there's a way to discuss the topic honestly that doesn't run the risk of sounding patronizing.
- knownjorbist 5y agoHow is HN of all places this out of touch?
- ROARosen 5y agoWe're calling buying and selling crypto on a relatively 'legit' regulated exchange like Coinbase "securities fraud" now?
- woodruffw 5y agoMy understanding of the AG's letter is that it's not directed towards Coinbase. Coinbase is and continues to be legal in NY State, regardless of my dim opinion of its business model. Edit: Unless you meant all of the thinly traded altcoins they've been adding which, yes, NY State has been correct to forbid. Penny stock fraud but with tire burning as the economic substrate.
- ROARosen 5y agoLet's take DOGE and SHIB as an exammple. NY residents can trade on Coinbase DOGE but not SHIB, eventually they will let SHIB too. You are incorrect in saying NY 'forbids' it, they just require it to be 'registered' which leaves the various platforms one of two options: 1. Cut out NY, 2. Register. Most platforms choose the former, and even if a platform chooses option 2 it takes time, money etc etc. Now, even tough DOGE was widely traded in the entire US it was not allowed in NY at the beginning of last year. So what happened now, did it become a 'better' coin? No! Will SHIB be a 'better' coin magically once it's 'registered'? Of course not. Point is, however much you hate crypto there is no point to this restrictive law.
- woodruffw 5y ago> Most platforms choose the former, and even if a platform chooses option 2 it takes time, money etc etc. Now, even tough DOGE was widely traded in the entire US it was not allowed in NY at the beginning of last year. So what happened now, did it become a 'better' coin? No! Will SHIB be a 'better' coin magically once it's 'registered'? Of course not. Point is, however much you hate crypto there is no point to this restrictive law. This misses the point: the financial legwork doesn't make any of these altcoins "better," it just makes their use more transparent to regulators. That transparency is in the public's interest. It's not the AG's job to make cryptocurrency better; it's her job to ensure that the laws of the State of New York are obeyed.
- IncRnd 5y agoYou make NY seem horrible in this regard, when all that was asked was to get licensed like a real company.
- ROARosen 5y agoI'm not referring the the article specifically, In general most crypto exchanges active in the US ban or extremely limit NY residents. Even on highly legit exchanges like Coinbase a huge part of their crypto offerings is unavailable to NY. That is because of these burdensome "You-need-us-to-protect-you-because-you-are-not-smart-enough-to-make-educated-choices" crypto laws. There are lots of different ways to ensure "scam" cryptos don't end up in NY. Being overly restrictive doesn't help NY'ers at all.