Isn't there a way we can just keep the regulators out of cryptocurrency? I mean, c'mon. Everybody knows they're dirty. Why are we inviting government mobsters into the house? There's no way that will end well for anyone other than the mobsters.
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This is why most Crypto Companies are basing themselves where the law is holding their hand in places like Zug and Singapore. The US is mostly likely one of the worst. Recently we have seen more and more ICOs excluding US IP addresses. Of course that is very easy work around with VPN. Most regulation only helps the rich get richer. Excludes the little man. They scream protection but the facts are clear. Most extreme regulation just kills jobs and wealth.
I post my opinions here: https://steemit.com/ethereum/@dana-edwards/every-crypto-project-must-have-a-risk-mitigation-plan-prior-to-launch
Regulators have the agenda of reducing certain risks. The risks they are focused on might not be the same risks you're focused on as a developer and or user of the platform. In areas where interests align then platforms need to do a better job self regulating and controlling risks, such as dealing with actual scams, theft (like TheDAO), etc. But then in areas where no one is being protected by the regulatory action (victimless crimes) then there is no responsibility of developers to make regulatory persecution easier. Developers in fact in my opinion should make that more difficult.
So the point is, platforms need to deal with risks and self regulate. Platforms need to do this more effectively than external regulation mechanisms. We have to recognition what the reasons are for these regulatory agencies to exist in the first place and when it's a valid and justified reason then we can simply take on the same responsibilities through technical measures. We can reverse a theft with a hard fork, we can detect scams, we can use our own means of arbitrating disputes using smart contracts and blockchains, but what we cannot and should not do is ignore security and the risks.
The summary of my opinion is that as a community the developers and users need to develop their own regulatory equivalent of a crypto-based SEC to manage it's own risks which the SEC is set up to manage. It is not necessary for the SEC to intrude on blockchains and technical means of risk reduction unless the technical means fail and there is no other solution left. So my stance is I'm in favor of self regulation over external regulation with external regulation being truly the last resort if it is revealed that with the technology the community cannot self regulate. All centralized institutions are vulnerable to regulatory capture and regulatory failure, while decentralized institutions are untested and it is not known if they'll work for self regulation.
jdc, we invited the mobsters into the house in 1913, and the BIS would like to take down the cryptos which is why they must survive if mankind is to have any chance at all