BREAKING Update: ShapeShift Online Wallet & Exchange: Leaving the State of Washington due to Continued Government Over-Reach.
Wow!!! You have to read this scathing update that is bluntly pointed at the government corruption and practices badgering and harassing consumers and stifling actual growth to small business!
-- Especially in a growing crypto space that seeks to cut out the statist agenda of over reach and always being in your pockets and stealing every bit of privacy they can legislate into existence!
It is so true, governments that do these things cannot be trusted and the fact they all have ridiculous salaries and legacy hiring practices propping up their lies and fraud and theft of decency and civil liberties daily all around the world, and rely on the same fraudulent legacy FIAT systems for their fat paychecks out of every tax they can force on people is a key here.
Today, ShapeShift joins some of the world’s most innovative blockchain technology companies in leaving the State of Washington.
The state’s regulators have taken the position that a new law, “Senate Bill 5031”, should require a license for blockchain service providers operating in the state. Under this interpretation of the law, we would now be required to ask permission from Washington before we buy and sell our own property for our own account. Moreover, we would be required to spend hundreds of thousands of dollars to maintain a license, only to extract our users’ personal information and store that information for hackers to steal.
We believe that this position – like the position taken by New York regulators in the BitLicense – endangers customers, stifles growth, and generates unnecessary frictional costs for young innovators. Worse, it does so for little to no gain for the State’s residents. Because ShapeShift is noncustodial, there is no more risk of loss to our customers than to the customers of a snack machine.
We believe the position that Washington’s regulators have taken is unethical, wasteful, and reckless. We cannot expect the same people, and the same thinking, that designed, built, and promoted the legacy fiat financial system to do what is needed to build a better alternative.
Still, as a customer-facing service provider operating in hundreds of jurisdictions, ShapeShift AG takes regulatory compliance seriously. As such, we are terminating service to Washington. Unfortunately, this means that Washingtonians will be required to use less-secure, more-expensive services. As in New York, the future of finance will no longer flourish there.
ShapeShift recently acquired one of the world’s leading hardware wallet companies, KeepKey, which is based in Washington. KeepKey will now be moving its headquarters away from the State permanently. The jobs it has already created and will continue to create will leave with it as well.
We encourage other US states to work with proficient organizations like Coin Center, which understand this technology and the value it brings to society, in drafting more responsible policy.
-The ShapeShift Team
Submitted by Emily on Sunday, August 27, 2017
on their original blog post here
To learn more, visit PleaseProtectConsumers.org.
http://pleaseprotectconsumers.org/
My path to Crypto is with you guys and we are on the path to Liberty.
We are all early adopters here, if you are even close to reading this today.
Be encouraged.
Don't let anyone tell you twins are a problem ever!!!!!
FUD or no FUD!!!
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
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If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
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PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
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ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
Wow!!! You have to read this scathing update that is bluntly pointed at the government corruption and practices badgering and harassing consumers and stifling actual growth to small business!
-- Especially in a growing crypto space that seeks to cut out the statist agenda of over reach and always being in your pockets and stealing every bit of privacy they can legislate into existence!
It is so true, governments that do these things cannot be trusted and the fact they all have ridiculous salaries and legacy hiring practices propping up their lies and fraud and theft of decency and civil liberties daily all around the world, and rely on the same fraudulent legacy FIAT systems for their fat paychecks out of every tax they can force on people is a key here.
Today, ShapeShift joins some of the world’s most innovative blockchain technology companies in leaving the State of Washington.
The state’s regulators have taken the position that a new law, “Senate Bill 5031”, should require a license for blockchain service providers operating in the state. Under this interpretation of the law, we would now be required to ask permission from Washington before we buy and sell our own property for our own account. Moreover, we would be required to spend hundreds of thousands of dollars to maintain a license, only to extract our users’ personal information and store that information for hackers to steal.
We believe that this position – like the position taken by New York regulators in the BitLicense – endangers customers, stifles growth, and generates unnecessary frictional costs for young innovators. Worse, it does so for little to no gain for the State’s residents. Because ShapeShift is noncustodial, there is no more risk of loss to our customers than to the customers of a snack machine.
We believe the position that Washington’s regulators have taken is unethical, wasteful, and reckless. We cannot expect the same people, and the same thinking, that designed, built, and promoted the legacy fiat financial system to do what is needed to build a better alternative.
Still, as a customer-facing service provider operating in hundreds of jurisdictions, ShapeShift AG takes regulatory compliance seriously. As such, we are terminating service to Washington. Unfortunately, this means that Washingtonians will be required to use less-secure, more-expensive services. As in New York, the future of finance will no longer flourish there.
ShapeShift recently acquired one of the world’s leading hardware wallet companies, KeepKey, which is based in Washington. KeepKey will now be moving its headquarters away from the State permanently. The jobs it has already created and will continue to create will leave with it as well.
We encourage other US states to work with proficient organizations like Coin Center, which understand this technology and the value it brings to society, in drafting more responsible policy.
-The ShapeShift Team
Submitted by Emily on Sunday, August 27, 2017
on their original blog post here
To learn more, visit PleaseProtectConsumers.org.
http://pleaseprotectconsumers.org/
My path to Crypto is with you guys and we are on the path to Liberty.
We are all early adopters here, if you are even close to reading this today.
Be encouraged.
Don't let anyone tell you twins are a problem ever!!!!!
FUD or no FUD!!!
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
--
Some of my recent blogs:
--
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
First the ICOs are banned in US and now exchanges are being banned(read as regulations). I think Chinese will benefit the most from these kind of extreme regulations. Looks like Chinese are doing a better job at regulating cryptocurrencies/ICOs to the right extent, just make sure that they are not stifling the innovation but making sure that innocent people are not being robbed off their money.
Will chinese be the new Super power once the crypocurrencies go mainstream? May be.
Canadastan and the USSA want to steal rights and taxes from people every chance they get, breaking down people -- and then over regulate everything so people cannot profit or earn a living.
Yet the police state and all state sponsored PAYCHECKS AND POLICY are untouchable.
Legal??
Moral??
Wherever you land, steem on.
May you have effortless travels.
What, that's horrible... It feels like they can do it very easily. It fears me about what other regions/countries/... will do since banks and governments don't like the freedom of cryptocurrencies...
It's what govt's do.
Yes, unfortunately... But I think it will not stop cryptocurrencies!
Here is a very interesting post on steemit about bitcoinbanning which is kind of related: https://steemit.com/cryptocurrency/@crypto-p/bitcoin-q-and-a-will-governments-ban-cryptocurrencies
Verry good post..
I like...
I wonder where they will go. Just any other state or what? Even leaving my son back there, leaving the us entirely was the best day in my recent past :)
I hear that a lot from informed people.
lol - the relief was intense!
(:
Hope Canada doesn't follow same suit as the USA to crypto in any near future.
I don't think it will unless pressured by the US. A couple of years ago, the government invited crypto expert, Andreas M. Antonopoulos to speak before a committee. The Australian Government were also so impressed they asked him to also speak before a Senate committee. So there is hope.
Yah don't think it will i had read something that the Canadian mint had done work on a digital coin mintchip so i think we are very open to it, might get some regulations on ITO's/ICO's
Yes, it seems to be world over governments are very negative on ICOs... because it changes the power balance, these startup companies might topple existing giants.
yes i feel thats alot it they can't truly control where or how we use cryptocurrency but also watch and wait in jext 2 years how many these ico's turn scam and people cry to local goverments.
I hope 99% don't and we got real ideas at work but so many ICOs and a lot stupid people invest with out knowning anything about the company
Greed and FOMO drive many people. Sadly you are correct, many people also do not take responsibility for their actions or decisions and as you say will run crying to the nanny state to do something about the big bad crypto world.
People call it Canadastan for a reason.
Look up the End the Fed movement and lawsuit here which is in the Supreme Court suing the Federal Gov't to return responsible monetary policy back to the hands of the people.
www.COMER.org
Committee on Monetary Economic Reform
The US is rapidly becoming the void where no cryptocurrency innovation and business will take place. The rest of the world on the other hand....
How empires fall....
True. Very well said.
Sad to hear that!
Thanks
You can see also
https://steemit.com/cryptocurrency/@dobartim/best-investment-strategies-in-crypto-on-stock-exchange
Interesting post. Thanks for sharing.