'Insult': Kraken CEO refuses to abide by New York's Crypto exchange Probe
Interesting articles here. Pay close attention to this point.
I know we have people on both sides of the regulatory fence here.
What do you think?
Does Kraken comply with regulatory agencies?
Comment on Y or N below to share your thoughts
I'm glad at least someone is out there putting up a fight against the regulation gestapo.
The NY Bitlicense wasn't designed to help the industry, it was specifically designed to create obstacles. The Futures industry doesn't want competition from crypto, and they are trying to fight cryptos the same way they fought off the retail Forex industry: with "regulation."
Well hey the ageing corpses that are at the center of centralisation try to keep the out dated monetary system in a state of homeostasis. And will try anything to maintain their lavish lifestyles.
May I have a resteem?
Read those posts of mine I linked to above (if you feel like it).
ok
To hell with the regulations! Do countries really think that they can control decentralised entities? I wish them the best of luck with that...
The idiots will end up being left behind if they are crypto unfriendly. Regulation itself is not bad, but we all know that it will be used by the rich and wealthy to stay rich and wealthy and deprive the rest of us. That's not what crypto is about!
Read these: https://steemit.com/cryptocurrencies/@bitbrain/banning-crypto-it-won-t-last
and https://steemit.com/cryptocurrency/@bitbrain/money-understanding-it-and-cryptocurrencies-part-4-weapons-of-the-war-on-crypto
Hit the nail on the head brother. It’s like these old timers behind the scenes wanting to fold up the internet and put it away because it has exposed what they do. Nope... it’s too big and will always be around.
May I ask for a resteem?
I don't see why not.
Much appreciated, upvoted :)
The issue with regulatory bodies isn't about whether you like them or not. They exist and for crypto to survive it has to both have a vision of the future and an understanding of the facts on the ground as they are today.
I actually read the questions that Kraken found so onerous to answer. And you know what? I want to know the answers to most of them. If crypto is going to reshape the world then a lot of those questions SHOULD be answered, not because Eliot Spitzer got a hard on about regulating but because for crypto to reach its full potential, it needs to be MORE transparent than the existing financial system.
Krakens actions are not heroic. They are a petulent child throwing themselves on the floor. Answer the question by posting them to your website and let Spitzer go to the trouble of downloading the answers. But answer the questions because they are the kinds of answers that will build confidence in the markets far beyond what the Attorney General of New York has even dreamed about.
I agree that the new way has to be more transparent, yet I fear that the big players till at least attempt to centralise it and operate it like the current fiats of the world.
We can assume that the big players among the old guard will do everything they can to exert control. In fact, we MUST assume that. But the way to combat that isn't to reflexively resist their every move. The tactics used are just as important as the strategic vision.
Good call, the pig picture is more important :) .
May I ask for a resteem?
Sure. Can I ask you to resteem a few of my blog posts? And for a few upvotes?