RE: 'Insult': Kraken CEO refuses to abide by New York's Crypto exchange Probe
The issue with regulatory bodies isn't about whether you like them or not. They exist and for crypto to survive it has to both have a vision of the future and an understanding of the facts on the ground as they are today.
I actually read the questions that Kraken found so onerous to answer. And you know what? I want to know the answers to most of them. If crypto is going to reshape the world then a lot of those questions SHOULD be answered, not because Eliot Spitzer got a hard on about regulating but because for crypto to reach its full potential, it needs to be MORE transparent than the existing financial system.
Krakens actions are not heroic. They are a petulent child throwing themselves on the floor. Answer the question by posting them to your website and let Spitzer go to the trouble of downloading the answers. But answer the questions because they are the kinds of answers that will build confidence in the markets far beyond what the Attorney General of New York has even dreamed about.
I agree that the new way has to be more transparent, yet I fear that the big players till at least attempt to centralise it and operate it like the current fiats of the world.
We can assume that the big players among the old guard will do everything they can to exert control. In fact, we MUST assume that. But the way to combat that isn't to reflexively resist their every move. The tactics used are just as important as the strategic vision.
Good call, the pig picture is more important :) .
May I ask for a resteem?
Sure. Can I ask you to resteem a few of my blog posts? And for a few upvotes?