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Actually, no. PayPal is licensed and bonded in 47+ states. Coinbase is licensed in 0. I don't think it's the best regulatory framework, but it's all we've got.
by thinkcomp 13y ago
Actually, no. PayPal is licensed and bonded in 47+ states. Coinbase is licensed in 0.
I don't think it's the best regulatory framework, but it's all we've got.
- deleted 13y ago[deleted]
- thinkcomp 13y agoYou're right, the surety bond system is fundamentally flawed. But it's $9 million more in security (in California, since different states have different bond requirements) than Coinbase has. I've advocated for an FDIC-like system for money transmitters, run by CFPB or some other entity, for three years. Congress is hard to reach these days. http://www.thinkcomputer.com/corporate/whitepapers/heldhostage.pdf http://www.thinkcomputer.com/corporate/whitepapers/heldhosta... http://www.thinkcomputer.com/20140214.cfpbcomment.pdf http://www.thinkcomputer.com/20140214.cfpbcomment.pdf
- deleted 13y ago[deleted]