Conversation

You listen but you also acknowledge that the laws predate the Internet, assume layers of middle men, no data availability, no transparency. Crypto eliminates the consumer risks that ancient regs were trying to solve for. Regs haven’t kept up and now they’re harming consumers.

Quote Tweet

Adam Levitin

@AdamLevitin

· Sep 8, 2021

And that means if you want to be in this space, you need a very cautious corporate culture, which is a culture of compliance. That means listening to the people who say "wait," or tell you "no, you can't do that." Even if you don't like hearing it. 7/

Show this thread

6:57 PM · Sep 9, 2021Twitter for iPhone

Replying to

I’m glad you’re on the good guys’ team, sir. 🤝

Replying to

The SEC protects American citizens from generational wealth

Replying to

“In the post-1933 FDIC-insured world, consumers expect 24/7 uninterrupted access to their funds. They expect that their funds will be there when they come looking for them.” Does someone want to tell him about wires and market hours? Or about the Fed money printers?

Show replies

Replying to

Precisely, these laws are coming from 80 years ago with no concept of internet, blockchains, etc. the best thing regulators can do is take the time and willpower to update the laws instead of waiting a century lol

Replying to

Why don't guys like

stay within those "cultures of compliance", we didn't ask them to join us in Bitcoining.

Replying to

This goes right back to invention, entrepreneurship, bias for action... I keep trying to understand why being ahead of the law is selectively punished when sacred cows are taken to slaughter. It's crazy to be breaking a law that doesn't exist or that is from an ancient era.