Washington Needs a Crypto Rethink

Re:Washington Needs a Crypto Rethink by vgatherps on Friday December 23, 2022 @03:10AM (#34103417)

It’s embarrassing for the U.S. regulatory regime that FTX.us was insolvent as well (you could see this by comparing borrow lending data to their wallets after the implosion, as well as some messages released in the CFTC complaint).

Hopefully the various regulatory bodies can set aside arguing over defi and whether something is a commodity or a security and get some common sense rules in place.

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Re:Washington Needs a Crypto Rethink by cuteboy19 on Friday December 23, 2022 @03:24AM (#34103489)

SBF was lobbying for exactly that

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Re:Washington Needs a Crypto Rethink by vgatherps on Friday December 23, 2022 @03:34AM (#34103556)

Which is strange since it would have unveiled his insolvency, unless the bill he wanted had loopholes or he figured he could steal more from international to fill the hole?

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Re:Washington Needs a Crypto Rethink by biscottigelato on Friday December 23, 2022 @02:39PM (#34109791)

From my understanding SBF was lobbying AGAINST DeFi. And lobbying for as many crypto as possible to be considered commodities instead of securities.

He was definitely not lobbying for more oversights in centralized industry players.

To be fair, there are already sufficient law and power to use against centralized industry players. It's not going to help when SEC rather go after the Kardashians and then mingle with SBF himself right after. Laws are not the problem. Using existing laws fairly and evenly instead of selectively towards all players. That's the problem.

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