Too bad they didn't question the big banks as assiduously 10-12 years ago.
Or now. Do we really think that HSBC-scale drug war corruption is not still happening?
A.G. Schneiderman Launches Inquiry into Cryptocurrency “Exchanges”
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Re: A.G. Schneiderman Launches Inquiry into Cryptocurrency “Exchanges”
#12Interesting to see it's in new york - I wonder what role the big players in finance have had in lobbying for this. Nonetheless, this is great. I would bet every single crypto exchange has their hand deep in the honey pot so they deserve whatever an investigation turns up.
While lobbying may have a role to play, it's likely that NY also has more prosecutorial expertise on financial shenanigans than any other place in the US (Due to past and current misdeeds of said big players in finance).
Re: A.G. Schneiderman Launches Inquiry into Cryptocurrency “Exchanges”
#13Interesting to see it's in new york - I wonder what role the big players in finance have had in lobbying for this. Nonetheless, this is great. I would bet every single crypto exchange has their hand deep in the honey pot so they deserve whatever an investigation turns up.
I'm pretty sure a bunch of big finance players were involved, but at least some of them I bet were not in the way you implied.
If I were a big fund or HFT shop I for sure want as much insurance as possible that my bitcoin trading funds are kept safe. Futures have too low liquidity, and don't trade on weekend when many moves happen.
Re: A.G. Schneiderman Launches Inquiry into Cryptocurrency “Exchanges”
#14Just reading the questionnaire... This is going to be huge as in this is going to be the foundation on which the government will go after the exchanges and enforce consumer protection...
Apologies if I don't feel particularly "protected".
I am fully protected against all bitcoin/token/blockchain scams, I wont touch this stuff with 10 foot pole...
Re: A.G. Schneiderman Launches Inquiry into Cryptocurrency “Exchanges”
#15Re: A.G. Schneiderman Launches Inquiry into Cryptocurrency “Exchanges”
#16Too bad they didn't question the big banks as assiduously 10-12 years ago.
Or now. Do we really think that HSBC-scale drug war corruption is not still happening?
Since no players of note went to jail in the Bailout 10 years ago, we can be reasonably sure the corruption is still entrenched. AGs know what side of their bread is buttered.
Re: A.G. Schneiderman Launches Inquiry into Cryptocurrency “Exchanges”
#17Too bad they didn't question the big banks as assiduously 10-12 years ago.
That’s nice. But what does that have to do with investigating cryptocurrency fraud?
Re: A.G. Schneiderman Launches Inquiry into Cryptocurrency “Exchanges”
#18Re: A.G. Schneiderman Launches Inquiry into Cryptocurrency “Exchanges”
#19Earlier quoted context omitted.
That’s nice. But what does that have to do with investigating cryptocurrency fraud?
Because AGs are rather selective in who they'll prosecute for fraud.
And that is an entirely separate issue that has nothing to do with the fraud ongoing in cryptocurrencies.
Re: A.G. Schneiderman Launches Inquiry into Cryptocurrency “Exchanges”
#20I suspect they would find some efficiently fraudulent manipulation in the complete absence of regulation, if only those exchanges were regulated enough to retain data sufficient for such inquiries.
>if only those exchanges were regulated enough to retain data sufficient for such inquiries.
It wouldn't surprise if they do indeed keep all the data. After all, almost all these companies are data driven, and they have data analysis departments [0].