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I don't know the specifics, but this being a U.S. exchange, it needs to comply with a whole lot of regulations in order to deal with customer money. So, while
by vasilipupkin 12y ago
I don't know the specifics, but this being a U.S. exchange, it needs to comply with a whole lot of regulations in order to deal with customer money. So, while I am not sure what exact level of protection it offers, whatever it is, it is higher than non US based exchanges, which should be a positive step for development of bitcoin
- SuddsMcDuff 12y ago"whatever it is, it is higher than non US based exchanges". Riiight, because nowhere except the US imposes financial regulations. Hey remember that time Europe existed? What sets Coinbase apart right now is not what country they happen to be in, it's that they've sought extra levels of conformity with their local authorities. If Bitstamp were to register with the British Financial Conduct Authority for example, people would have a lot more confidence. Lets not be so arrogant to imply that bitcoins future rests on the US market.
- vasilipupkin 12y ago"Lets not be so arrogant to imply that bitcoins future rests on the US market" - first of all I never said this. Have you actually read what I said? I said this development is a net positive for bitcoin. Why? Because if you run afoul of US regulations, it's hard to deal with any banks that do business in the US.