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Good thing sufficiently decentralized exchanges continue to serve US customers without interference from the government.
by alphanullmeric 4y ago
Good thing sufficiently decentralized exchanges continue to serve US customers without interference from the government.
- JumpCrisscross 4y ago> Good thing sufficiently decentralized exchanges continue to serve US customers without interference from the government As they should be. If they aren't laundering money for Russian criminals and designated terrorist organizations. FinCEN seems to be on top of working to segregate compliant from non-compliant decentralized exchanges, as well as the people using and developing them.
- steveBK123 4y agoThe discussions they had.. in electronic form.. about Hamas buying AK47s and how its not money laundering if the dollar figure is small enough were.. illuminating. This is basic stuff covered in AML training for any bank intern at a 3rd string bank 20 years ago. Just incredible.
- transcriptase 4y agoQuite the spectacle to watch the crypto space go from pure libertarian idealism to basically speed-running the reimplementation of every banking regulation developed in the last 200 years… after people exploit their absence to defraud everyone they can as quickly as possible. It’s almost as if modern finance is regulated for a reason.
- matheusmoreira 4y ago> Quite the spectacle to watch the crypto space go The crypto exchange space. Exchanges are really just unregulated banks in disguise: all the drawbacks and none of the benefits. They're the very same centralized banking intitutions cryptocurrencies were supposed to put an end to.
- lottin 4y agoAren't decentralized exchanges unable to handle real money? And therefore somewhat (if not completely) useless for the purposes of buying and selling crypto-currencies?
- alphanullmeric 4y agoI’m glad we agree it’s not the governments place to regulate exchanges that don’t transact real money.