Coordination, Good and Bad

Re:Coordination, Good and Bad by XMPPwocky on Saturday September 12, 2020 @01:48AM (#24450167)

So which is it? Are the laws unenforceable in the face of this 13-year-old technology, or are they enforceable but unpopular (and if so, why deal with all this cryptocurrency stuff instead of just lobbying hard to change unpopular anti-money-laundering laws directly?)

There was a reason Poloniex pulled out of the US last year, right? What was that reason?

And remember- if your paycheck depends on this technology- or, particularly, if you hold lots of cryptocurrency- it's easy to be willfully naive about its potential.

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Re:Coordination, Good and Bad by seibelj on Saturday September 12, 2020 @02:03AM (#24450227)

People have used crypto to sidestep laws for 13 years. The laws don’t matter.

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Re:Coordination, Good and Bad by XMPPwocky on Saturday September 12, 2020 @02:26AM (#24450300)

If not for legal reasons, why is Poloniex no longer operating in the United States?

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Re:Coordination, Good and Bad by seibelj on Saturday September 12, 2020 @02:52AM (#24450440)

Poloniex has moved to the Seychelles, which is the “Land of the Free”. If you don’t desire the protections offered by the Seychelles, please use Coinbase. What’s wonderful about the crypto industry is you can voluntarily choose the exchange you like!

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Re:Coordination, Good and Bad by XMPPwocky on Saturday September 12, 2020 @03:02AM (#24450484)

Sorry for being unclear- I meant why (i.e. what was the reason for the decision, not where did they move to) did Poloniex move from the United States to the Seychelles, and stop allowing users from the United States?

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Re:Coordination, Good and Bad by shlant on Saturday September 12, 2020 @08:55AM (#24452062)

due to US laws. Same reason Bitmex is moving to requiring KYC and Binance created a US only site - to avoid getting sued/shut down.

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