Takeaway: the SEC did indeed informally indicate to Circle that regulators would "not pursue any enforcement action for prior activity" at Poloniex as long as Circle cleans up Poloniex and turns it into a regulated exchange.
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The SEC seems to be saying here that it's okay if you broke the rules, as long as you get acquired by a legitimate player before we crack down on you.
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The question now seems to be whether the SEC will apply this same thinking to other virtual currency exchanges if they are acquired by large players.
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big deal, trade on
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*confidential
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Why would they deny writing it? Which part will get them in trouble?
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Interesting, but not enforcing action for prior activity does not solidify anything in regards to the treatment of future exchange owners - this is a classic case of "its about who you know", ie Goldman Sachs.
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This is tough competitition for
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Interested.... but what does that mean in the long run for Poloniex customers. For one, mandatory reporting of all U.S. accounts to the IRS?
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Maybe, but won’t have the type of customers the irs wants reporting on. I See this becoming the institutional investor exchange.
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