3 ms·

The SEC and DOJ let crypto scams, ponzis, unregistered securities linger for 15 years. They barely did anything. It's only now that they're starting to go after

• twelve40 3y ago
  it pretty intense how much they are tightening things. I just signed up for crypto.com and it's mfa, id upload, mfa on every transaction, and a 3d face scan now (so much for anonymous bitcoin, haha). A bunch of exchanges avoid US like the plague now, can't register. I knew the USG would never ever ever tolerate any "distributed finance" except with draconian KYC and bolted to the traditional system. I can even see them shutting down any transfers to "unauthorized" addresses eventually, you will only be allowed to play with party-approved "tokens" after you pass a full cavity search.
  • simple-thoughts 3y ago
    An interestimg implication is people already in crypto from early on may be given access to services later comers can’t get. If dollars are not freely exchangeable with crypto it’s very difficult to buy a large and growing set of goods and services. Something similar exists in some countries that have an official currency used for state stuff and an unofficial one (usually usd) that’s for everything else. The old joke being that in Cuba, it’s better to marry hotel staff than a doctor.
    • somewhereoutth 3y ago
      If dollars aren't freely exchangeable with crypto there simply won't be a 'large and growing' set of goods and services. Not even illegal ones!
      • simple-thoughts 3y ago
        Most countries and most people don’t need usd to conduct daily transactions. Why should crypto be any different?