e) GOTO a
a) CFTC steps in to "protect consumers" b) Exchange dismantles cold storage c) Hack d) Regulators point & say this is why regulations needed
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@aantonop CFTC didn't force anything-nor even sign off that BitGo seg wallets even satisfied the requirement- BFX thought it was a solutionThanks. Twitter will use this to make your timeline better. UndoUndo
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@MarcHochstein still looking for the regulator's edict that "caused" the hack. Can you link me? -
it set off the dominos, wasn't sole culprit. Start here, he said modestlyhttp://www.americanbanker.com/news/law-regulation/did-regulatory-meddling-cause-bitfinex-hack-1090569-1.html …
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...but here's the CFTC announcement of the reg order in question http://www.cftc.gov/PressRoom/PressReleases/pr7380-16 …
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regulating
#bitcoin same way as traditionally = trying to use a whip & blinders on a tesla, stuck in horse-drawn carriage era...
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this is the biggest risk to
#bitcoin IMO. Regulations will strangle it.Thanks. Twitter will use this to make your timeline better. UndoUndo
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this makes me so angry! The reason we are in such mess everywhere is because if big f.. govt. Populism will intensify in due time.
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Eff the regulators - just effing eff them !
#Freedom !Thanks. Twitter will use this to make your timeline better. UndoUndo
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Dude: a) Fed didn't see housing bubble b) Post housing bust, Fed had the "solution" c) Fed doesn't see current bubble
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@JopHartog e) Nxters say: We already have a decentralized exchange since 2014.
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Regulation...another way to 'control' the masses under the guise they are being 'protected' to keep the status quo. Nice!
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Existing laws distinguish between delivery businesses and ones that hold; this was bitfinex doing regulatory arbitrage.
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how so? Based in HK, and settled with the CFTC (presume to maintain US customers).
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Historically, ones that made physical delivery (US regs usually specify 3 days) were used to hedge, not speculation
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So different regulatory regime
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Understood- I suppose the point is they chose to not register as a SEF.Although how realistic is that for nascent tech?
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Well here we are wondering how our trading accounts will be treated.
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Indeed ( and sorry to hear you lost funds, btw). A shift in regulatory approach soon wouldn't be too surprising.
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Thanks. We'll see what the story is soon, I think inre: funds.
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