3 ms·
It's sufficient to regulate the high-profile crypto on/off-ramps. Exchanges should follow the same rules as banks and brokers, and there probably should be an e
by pavlov 4y ago
It's sufficient to regulate the high-profile crypto on/off-ramps. Exchanges should follow the same rules as banks and brokers, and there probably should be an energy waste tax levied on PoW coin transactions which exchanges would enforce, similar to how brokers do dividend tax withholding today.
If someone wants to trade Bitcoin peer-to-peer for cash 2010-style, that's fine by me, it won't create systemic risks.
- jbaczuk 4y agoI agree, and exchanges already are heavily regulated. But taxing energy consumption? How can you tax energy waste? What if someone sets up their own power generation? Is it wasting energy to let sunlight hit a parking lot?
- kayodelycaon 4y ago> What if someone sets up their own power generation? I'd like to see how this is economically feasible for crypto.
- jbaczuk 4y agoMe too. It's another financial incentives to make clean power generation more accessible.
- pavlov 4y ago> ...exchanges already are heavily regulated. They are not, compared to banks and brokers. They do all kinds of things that would be absolute no-nos in regular finance, like trading against their customers.
- jbaczuk 4y agoAh, that's a good point. Well, good thing is you don't need an exchange to use it, and there are decentralized exchanges.