regulators don't have problem with crypto, they have problem with Crypto.
more seriously, there's zero problem with the technology. you can send money to anyone you want using a complicated game of crypto whisper phone, but everyone in the chain has to file tax returns or whatever is required in the jurisdictions along the path.
patio's piece opens with the insight that Crypto companies want to be eveywhere while being nowhere.
if Crypto wants to really be everywhere, then they can do what all big tech (and non-tech) inter-multi-continental conglomerate does, open branch offices, do the frustrating work of finding local regulation experts, navigating the immense labyrinth of global vs local realpolitik, etc.
they should/could have started with registering the fucking tokens.
it makes zero sense that they contested this, because they already do KYC for their own fucking anti-fraud purposes.
more seriously, there's zero problem with the technology. you can send money to anyone you want using a complicated game of crypto whisper phone, but everyone in the chain has to file tax returns or whatever is required in the jurisdictions along the path.
patio's piece opens with the insight that Crypto companies want to be eveywhere while being nowhere.
if Crypto wants to really be everywhere, then they can do what all big tech (and non-tech) inter-multi-continental conglomerate does, open branch offices, do the frustrating work of finding local regulation experts, navigating the immense labyrinth of global vs local realpolitik, etc.
they should/could have started with registering the fucking tokens.
it makes zero sense that they contested this, because they already do KYC for their own fucking anti-fraud purposes.
https://en.wikipedia.org/wiki/Regulation_A#Testing_The_Water...