4 ms·
If you're going to attack the regulations, at least address what the regulations are there for. The regulations are very very simple, it provides a baseline to
by SilverBirch 4y ago
If you're going to attack the regulations, at least address what the regulations are there for. The regulations are very very simple, it provides a baseline to ensure that people understand what they're investing in. That's it! That's what the regulation is there for. When someone buys clothes or a lottery ticket they know exactly what they're getting - and lotteries are regulated to ensure they operate the way people expect them to, there's laws surrounding selling counterfeit clothes.
That's all this is. Ensuring people know what they're buying. And it's for good reason, generally it's difficult to even get experts in crypto to agree on the properties of a particular product, so misunderstanding what crypto does it a very valid concern.
- detrites 4y agoThat's so inaccurate. What part of the SEC siphoning millions of dollars of customer-created profits out of crypto companies, and then letting them continue on doing business almost exactly the same as before has anything to do with educating people about anything? What has NY's extensive restrictions on crypto business versus other states have to do with educating people about what crypto is? And when someone buys a lottery ticket, or gambles at a casino, I can guarantee you they almost certainly have zero idea what they're buying - or they would't buy it. How's this "education" working out there? There may well be laws around counterfeit clothes, but are there laws around selling two identical sweaters, possibly even made in the same factory in China, but one costs 100x the other one because one was "designed" by a particular brand? Where's education and regulation on that one? People are being duped in their millions into paying hand over fist for disgustingly overpriced clothes and I don't see anyone "protecting" them.