[HN Gopher] Is the SEC Forcing Crypto Devs into Illegality and A...
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       Is the SEC Forcing Crypto Devs into Illegality and Anonymity?
        
       Author : timdaub
       Score  : 16 points
       Date   : 2021-11-04 19:36 UTC (3 hours ago)
        
 (HTM) web link (timdaub.github.io)
 (TXT) w3m dump (timdaub.github.io)
        
       | megameter wrote:
       | The hypothesis of the "blockchain startup" rests on the idea that
       | this tech can succumb to the standard platform monopolization
       | plays and ultimately see a new "big tech" company emerge. A lot
       | of the market action to date is driven by this: capital pouring
       | money down a chute to create a dog and pony show of heavily hyped
       | tokens. There's still smoke in the air from all the action, but
       | the picture is getting clearer.
       | 
       | By building it as a company, you're taking a fundamental
       | disadvantage to anonymous competitors, because the anonymous act
       | as a sovereign micronation and can make the rules for themselves,
       | while you are just another striver within the state, forced to
       | compromise and not step on toes. I wouldn't rule out tokenization
       | as a company, but I sense it existing in a separate,
       | collaborative niche from the anon projects.
        
       | toomuchtodo wrote:
       | Regulators are requiring financial technology to support existing
       | laws and regulations. What's strange is that it seems the author
       | of this post never contemplated this would be the outcome of DeFI
       | or crypto.
       | 
       | > If crypto and DeFi are truly that great for innovation now,
       | isn't it kind of ironic that after nine months of work, I'm
       | starting to realize that my project's challenges don't lie within
       | technology but are made of legal uncertainty?
        
       | nwah1 wrote:
       | No. They were largely already enthusiastically engaging in
       | illegality and criminality, it is why they signed up.
        
         | tata71 wrote:
         | If you had said "many were" I'd have been inclined to support
         | your truthful statement.
         | 
         | Why be spiteful?
        
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       (page generated 2021-11-04 23:01 UTC)