Re:Bitcoin Cash deals frozen as insider trading is probed
by FLUX-YOU on Wednesday December 20, 2017 @02:12PM
(#15972744)
Coinbase is in the USA, which makes it fall under the SEC, but Gemini (which all of /r/bitcoin is apparently moving to) isn't -- it's in Canada and the UK.
That's what makes regulating bitcoin hard. It soon becomes a diplomatic problem.
And there's nothing that these agencies can do to stop the actual wallet-to-wallet transfer short of nuking all miners or knee-capping and getting your private key. So even if you were found guilty, you could conceivably flee the country along with a ton of currency.
Regulation is meaningless without the actual threat of enforcement. It means all exchanges can pick up and move to more friendly countries.
Re:Bitcoin Cash deals frozen as insider trading is probed
by proofofanalysis on Wednesday December 20, 2017 @03:15PM
(#15973358)
Gemini Trust Company, LLC is a New York trust company. Gemini is regulated by the New York State Department of Financial Services (“NYSDFS”).
Source: https://gemini24.zendesk.com/hc/en-us/articles/204734485-Is-...
And it's not a leap to suggest that these cryptocurrencies are going to be treated like securities by regulatory bodies. If the SEC argues successfully (which they seem to be leaning towards) that they're securities, a slew of regulations will begin to apply.
Simply put, you don't need a law that's SPECIFIC to cryptocurrencies in 2017.