61–70 of 73 posts
I 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.
Fortunately all the cryptocurrency in and out transactions are irrevocably documented on a public legder.
Interesting 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 would bet every single crypto exchange has their hand deep in the honey pot I really doubt it. These exchanges are making unbelievable amounts of money in fees. There's no reason for them to risk that just to make a little more.
Martha Stewart's insider trading saved her a grand total of $45,673.
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I'm not suggesting anything in particular and maybe shouldn't have used the word lobbyist and certainly don't want to sound like a conspiracy nut - but it's a good thing to keep in mind that if/when existing banks and existing exchanges become involved in trading cryptos, they'll want less competition from the vulnerable incumbents. I completely agree though. I can't even begin to imagine what the crypto exchanges ar…
I can tell you one thing going on: legendary stop hunts. But I don't think it's the exchanges who are behind them, but other big players.
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Fortunately all the cryptocurrency in and out transactions are irrevocably documented on a public legder.
One exchange user selling to another user on the same exchange (or to themselves, i.e. a wash trade) needn't hit the public ledger.
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> Clearly The burden of proof is on you to demonstrate that Schneiderman is acting here to protect the banking system and not acting to protect his constituents from being defrauded.
Proof is obviously just another trick by the statist stooges conspiring to hold back cryptocurrencies.
since when one guy can crack down on global exchanges. this is why we need decentralised exchanges
If you want New York money, you need to deal with the New York legal system.
Decentralized exchanges won’t help you either. Any time you interface with a nation’s currency, you’re going to deal with that nation’s government.
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Don't you worry, I make plenty of profits in the markets, using AI trading robots, but I would never transfer 6 or 7 digits account to one of those shady exchanges, just to watch my money being stolen by crooks... Just wait few more months and the sign "This domains has been seized by the FBI" will start to pop around...
Why would you move such a large amount to an exchange all at once? It's much safer to move smaller amounts and move the funds to your own crypto wallet with your own private keys, that way you don't have to trust them with large sums.
For investing, not surprising, the whole thing is going the way of the tulip bubble... it's just not worth discussing a 25 year old technology still looking for a problem to solve...
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> Clearly The burden of proof is on you to demonstrate that Schneiderman is acting here to protect the banking system and not acting to protect his constituents from being defrauded.
He has motivation to protect the legacy banking system and all unenumerated motivations as well.
I'll point out the obvious, just to get the discussion going: it's reasonable to suspect that the motivation is not consumer protection but subversion of technology which presents a challenge to the FIRE economy, which has a tragic stranglehold on NY (my home state). How will we know the difference? What will we do if indeed it's the latter?