3 ms·
Which is a philosophical issue with crypto - the first cryptocurrencies were designed specifically to avoid government regulation.
by phone8675309 3y ago
Which is a philosophical issue with crypto - the first cryptocurrencies were designed specifically to avoid government regulation.
- dlubarov 3y agoBut here we're talking about exchanges. Resistance to government censorship/control only applies to on-chain activity, not centralized custodians.
- lazide 3y agoMost of the custodians work very hard to side step regulation and enable scams, albeit not necessarily openly on the second part, and are enabled by the on-chain primitives. Pretty hard to avoid gov’t oversight/regulation when a USD Wire and ACH goes through the fed, for instance. Easier when it goes through a blockchain which they can’t control. Which is why a lot of exchanges (and all the sketchy ones) use things like Tether and stablecoins, and avoid US banks.