4 ms·

What could they do though? Ask all employees to provide their personal wallet addresses then monitor that? Seems unlikely to happen.

• chollida1 4y ago
  I mean, this is exactly what happens when you work for a hedge fund. You have to provide statements for all trading accounts you and your immediate family own. So, yeah, this is exactly what coin base should be doing. They should require all employees to list all account addresses they have access to. It's a trivial ask for the employee and its trivial to scan
  • etothepii 4y ago
    I worked for an investment bank for many years. We had to sign a declaration that we would not make trades of any kind without permission from compliance (the withholding of this permission in 2012 is why I am not a BitCoin millionaire). However, there was no requirement to hand over login details to brokerage accounts etc. I would be surprised if there was elsewhere.
    • incone123 4y ago
      The person you replied to said 'statements' not 'login details'. Are you treating these things as synonymous? I suppose if I was only required to hand over statements I could edit them.
      • sudosysgen 4y ago
        Not login details, addresses are read only. And editing statements is fraud.
        • incone123 4y ago
          Yes, that's why I wondered if the direct access via login details was intended to prevent that fraud.
          • iav 4y ago
            Those days pretty much all brokerages will provide a feed of your trading activity and open positions to a 3rd party compliance aggregator like ComplySci. No login details needed, the feed is read-only, and only has need-to-know information. It requires double opt in - you provide information to your employer, and then the brokerage will confirm with you that you authorized the feed. But if you have a weird account that doesn't support this system, then you always have the option of entering them manually and certifying that you haven't missed any.
      • etothepii 4y ago
        I was indeed treating as synonymous. There was no requirement to provide statements or any evidence of compliance with the policy. I assume it was assumed that the remedies available for breach of contract would be sufficient.
  • netheril96 4y ago
    But it is so trivial to create more addresses than one reports to his/her employee. It is also difficult to verify that one has reported all his/her owned addresses.
    • chollida1 4y ago
      Sure, and you can always open more brokerage accounts as well. but the point is two fold. One: you've done your diligence so as a company you've covered your ass with the regulators. Two: you've made it clear to the employee what the rules are, if they chose to open a new brokerage account or wallet address then they clearly know they are breaking the rules so there is no confusion. as one compliance officer said to me, the regulators aren't looking for perfection, they are looking to see that you are following both the rule you laid out in your internal policies and that you are doing what the rest of the industry does.
• spaceman_2020 4y ago
  Opsec in crypto funds is terrible Most serious hedge funds won’t even allow you to bring your cellphone inside the trading pit.
  • sudosysgen 4y ago
    Serious hedge funds won't allow you to trade or having any positions that may remotely have a conflict of interest.
    • spaceman_2020 4y ago
      That didn't happen by accident. It was regulation and threat of enforcement that made hedge funds adopt better practices. Crypto needs to grow up and accept regulation too if it wants to be taken seriously as an industry.
• cubecul 4y ago
  Actually, yes! That's what happens today