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by SpicyLemonZest
1772 days ago
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I don't want to sound unsympathetic, because the situation really does suck for cryptocurrency devs, but it's not obvious to me that they should get to unilaterally decide how it works. The bill defines a broker as "any person who (for consideration) is responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person", and it seems reasonable that anyone who's transferring assets on behalf of someone else should know who that someone else is. More broadly, if you've ever wondered how industries can go to Congress with a straight face and argue for crazy regulatory exemptions, this is what it feels like from the other side. I like crypto devs a lot more than I like, say, Exxon, but I still don't think we should have carveouts just to protect their business model. |
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