3 ms·

> Any crypto sceptic who does not see a problem with this is tainted by their priors. Who is this addressed at? I think most (any?) crypto skeptic would see th

> Any crypto sceptic who does not see a problem with this is tainted by their priors. Who is this addressed at? I think most (any?) crypto skeptic would see the problems here and suggest that these exchanges should have been shut down much earlier. The fact that they were allowed to operate so long gave them the veneer of respectability which just brought in more suckers. Coinbase et al knew (or should have known) exactly what they were doing, they were making hey before the regulators caught up to them. Nobody's claiming that the US legal system is perfect, but here we are. The wheels of justice grind away slowly. At least they're finally regulating these things.

miracle2k 3y ago
> Who is this addressed at? People who want to ridicule complaints of a lack of 'regulatory clarity'. You can hold the view that crypto should have been aggressively regulated against much earlier, while also recognizing that regulators / the state have a due process obligations. The state should not be allowed to take away your residency permit even if it was issued incorrectly 10y ago due to an oversight on their part. Similarly, it is reasonable to argue that the state should not be allowed to punish a business for behaviour it has tacitly approved of by doing nothing for a decode. It's not like Coinbase was doing this under the radar and the SEC just noticed recently.