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Regulation by whom? Obviously not Iran (and definitely not my home country's dictatorship), but why would I trust the US or any other government not to become b
by notpushkin 4y ago
Regulation by whom? Obviously not Iran (and definitely not my home country's dictatorship), but why would I trust the US or any other government not to become bad in the coming years?
- echelon 4y ago> Regulation by whom? Every single government. If you have a business that interfaces with crypto and the citizens of any country, then you have obligations to comply with each jurisdiction's rules. Crypto has been shown time and time again to have rough edges. I would expect every government to eventually evolve protective legislation, mostly to safeguard the non-institutional class from being taken advantage of.
- notpushkin 4y agoI don't think doing every single government is feasible. There will always be a “fraud haven” with lax law enforcement or something. I think we should instead teach people to: - only trust businesses with exactly as little of their money as needed (definitely don't store all their savings on Binance), - if the amount is big, only deal with business registered in a jurisdiction that does recognize crypto.