Crypto Exchange Regulation
Discussions center on whether cryptocurrency exchanges like Coinbase are regulated similarly to banks, the extent of existing regulations such as money transmitter licenses and SEC compliance, and calls for stricter oversight.
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General question: are crypto exchanges not regulated the same way banks are regulated (in the US)?
This isn't coinbase, this is the exact regulations that everyone is screaming that are necessary in cryptocurrency land.You could have easily substituted coinbase for chase bank here.
Regulate crypto exchanges then. They're just banks in disguise.
do you have any insight for how this is illegal considering that cryptocurrencies are currently unregulated.
Coinbase is an SEC “compliant” company. What specifically about this company is “deregulated”?
in the name of regulation everything can be justified. Coinbase has to work with regulators. Surprised!
A crypto currency isn't a bank, but people that exchange crypto-currencies for money and back again are subject to financial regulations in most countries. For example, in the US I don't think that they would be considered 'banks,' but they would still be subject to Federal regulations. The point being that if you can convert back and forth you can use it as a way to launder money, so the government forces the exchange to have some sort of 'know your client'
Crypto.com is a heavily regulated entity.
Coinbase has state licenses. It is regulated.
Why wouldn’t the regulations apply to crypto?