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Yes, Bitcoin was made so that you don't need AML and KYC. That doesn't mean they're not still laws. Gensler refuses to say ETH is a security because he doesn't
by SilverBirch 3y ago
Yes, Bitcoin was made so that you don't need AML and KYC. That doesn't mean they're not still laws. Gensler refuses to say ETH is a security because he doesn't want to bar the CFTC from also suing the hell out of them. It's not unprofessional, it's pretty standard.
Yes, it's great that Bitcoin will move away from free and open democracies to banana republics and despotic regimes- the true bastions of freedom.
- Kretinsky 3y agoHow about firearms? US Constitution said you had the right to own one, so the law should be the same for muskets and RPGs? I know it's an ongoing debate in the US ;-) Also, Bitcoin was made to be an alternative to cash, not an alternative to banks. So it can be discussed that KYC/AML should apply.
- ESTheComposer 3y agoThe fact that you think the CFTC wouldn’t sue anyway and that the SEC is employing some sort of professional courtesy exposes how much you actually know of whats been happening with the SEC and crypto. Also that you imply him saying something is a security would automatically make it so is even more so telling. The CFTC is not happy with Gensler’s blatant power grab either https://www.cftc.gov/PressRoom/SpeechesTestimony/phamstatement072122 https://www.cftc.gov/PressRoom/SpeechesTestimony/phamstateme...