Tuesday, February 6, 2018

Meeting between sandbox and regulators

Altogether, the hearing may not have led to any bombshells, but it confirmed what has already been made apparent: new cryptocurrency regulations are likely coming to the US market.
“We may be back with our friends from the U.S. Treasury and the Fed to ask for additional legislation,” Chairman Clayton said during the hearing, and — based on the tone of questions from individual committee members — legislators are likely to give it to them.
The senators should do nothing until all parties understand sandbox in its entirety, else the regulations will be gamed by some faction within the community.  The  lawmakers understand the autotraded pit, Fintech already spread the word.  The escrow router seems to the next definition. Secure processor is here, do not buy a wallet without it.

The lesson to be learned is 1928 when Hoover suddenly created the FCC. The new exchange protocols jammed the transportation network. If the regulators jump all over bitcoin then Fintech takes off and owns all the good technology.  A problem in coordination about which bitcoiners are clueless.

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