Kraken Pwns Regulators from NYAG
Lately, NYAG (New York Attorney General) sent inquiries to top exchanges about. Other spots took it easy saying they will fill questionnaires yet Kraken went another route.
The points are tight and everyone agrees with them. But the exchange goes further.
Im not using Kraken due to overcomplex UI but i have to say this is amazing move from their side.
Markets
If things gonna go this way soon NYC will be worst spot to live while being a crypto trader.
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Although I have criticized Kraken in the past for their slow Trading platform but their response is a thing of beauty. Got to get some popcorn for this show ;-)
Nice, Kraken is trolling the trolls.gov!!!
I'm new to crypto and this whole thing, but tell me if I read this post correctly. This is my interpretation of what I read.
Dear Kraken,
Give us everything we ask for and trust that we will do the right thing on everyone's behalf. You have 2 weeks.
Thank you
Sincerely NYAG
Dear NYAG,
You fools couldn't tell the difference between your ass and a hole in the wall, Go screw yourself.
Sincerely, Kraken.
Its the same rule everywhere... until crypto puts enough money inside the personal pockets of these regulatory folks, they will all try the easiest protection rule. They forget that denying the inevitable is the recipe for staying behind... becoming a 3rd world society. And we have history that proves that Everywhere!
This is beautiful stuff
Great post. I'd appreciate that you see my content as well. I do technical analysis for the community with a focus on teaching.
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I believe all the exchanges got essentially the same letter from the SEC. It's probably the only option they have, being open and transparent with the government if they wish to operate inside the US.
Agreed!
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So everyone agrees with these points made by Kraken:
"What else doesn’t matter to most crypto traders:
Point 4 I can appreciate. But points 1-3, especially 2? You have to be joking if no one cares about market manipulation? For example with co-ordinated high-frequency trading (use of bots) and the speed at which information flows (fake, sponsored, paid etc.) through various channels such as social media and crypto news channels we never stand a chance of genuine price discovery for these assets.
What Kraken is saying is that the majority of Crypto traders do not appreciate being protected from bad actors in this marketplace and are comfortable with dealing with agents who possibly have low protected values.......
Please shoot me now!
@Shenobie
Muy interesante e informativo el Post. te sigo.