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Can you imagine anyone proposing this for the ordinary financial sector? The hardcore libertarians would approve, but nobody else would take such a proposal ser
by jasonhansel 4y ago
Can you imagine anyone proposing this for the ordinary financial sector? The hardcore libertarians would approve, but nobody else would take such a proposal seriously.
- eramoose 4y agoWhile I'm pretty skeptical a SRO would work for crypto, as mentioned in the article, SROs like FINRA are one of the main sources of regulation in the ordinary financial sector.
- sp332 4y agoUsually industries try to self-regulate at first. Sometimes they do an acceptable job, and sometimes they get regulated by outside agencies.
- oblio 4y agoMoney's been regulated since the beginning of time. And when/where it wasn't, we usually called the place a failed state.
- AdamN 4y agoActually SIPC is exactly that and is probably what the crypto industry wants to model themselves after.
- areyousure 4y agoIn case anyone is curious: https://en.wikipedia.org/wiki/Financial_Industry_Regulatory_Authority https://en.wikipedia.org/wiki/Financial_Industry_Regulatory_... > The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets.