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A comment on Attorney General orders unregistered crypto lending platforms to exit NY. Parent comment

Re:Attorney General orders unregistered crypto lending platf... by AnthonyMouse on Monday October 18, 2021 @08:56PM (#28913745)
The real problem here is that the constraint is on how much money you have regardless of how much money you're investing.

If your net worth is $20M and you're investing $20,000, losing all of it clearly wouldn't bankrupt you. If your net worth is $20,000 and you're investing $20,000, losing all of it clearly would bankrupt you.

But then you say to the person with $20,000 that they can't invest $500. Which is kind of nonsense.

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Re:Attorney General orders unregistered crypto lending platf... by sgc on Monday October 18, 2021 @09:48PM (#28913993)
Absolutely this. Just make a percentage of net worth requirement. It's pretty hard to find a decent investment if you can't join a syndication or invest in much of anything that has not already been through the ringer of the wealthy a few times, and played out.
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