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RE: Kraken Pwns Regulators from NYAG
So everyone agrees with these points made by Kraken:
"What else doesn’t matter to most crypto traders:
- Licenses and regulatory approval
- Being protected from market manipulation
- Being protected from making risky investments
- Conforming to Wall St.’s image of what crypto markets should be"
Point 4 I can appreciate. But points 1-3, especially 2? You have to be joking if no one cares about market manipulation? For example with co-ordinated high-frequency trading (use of bots) and the speed at which information flows (fake, sponsored, paid etc.) through various channels such as social media and crypto news channels we never stand a chance of genuine price discovery for these assets.
What Kraken is saying is that the majority of Crypto traders do not appreciate being protected from bad actors in this marketplace and are comfortable with dealing with agents who possibly have low protected values.......
Please shoot me now!