I've had a hard time explaining to people what's going on and why it is a big deal. You do need some historical context for how the US law system works and our general policies.
Basically they want to track, control, bar etc etc everything. They want to do everything bitcoin was meant to keep them from doing. Let's be perfectly clear. They can't control the protocol, so they are just fencing American's in and using an oppressive profound capitalist legal regulatory system to make it so difficult to offer Americans services that no one does, where they then by turn over domestic control to, you guessed it the banks,
So the US government is overtly hostile to small entrepreneurs in the space, to innovative, low maintainance, low overhead people and the various projects that make the space a common man's tool. And since they know they can't win a fair fight, they are lying about jurisdictional reach to threaten and intimidate every major foreign exchange.
What they are doing is incredibly dangerous to the space in terms of setting legal precedents. You have to follow the legal precedents and study some legal history here, but they are creating a very bad path. They are going into border mode on something that is inherently hyper anti border.
We as an industry have to completely shift to decentralized exchanges that are set up differently than these current DEX. We need to look at it from a legal perspective. We need to fight for protections against software developers in supreme court, as free speech, and we need to have totally immutable non corporate DEX and multi DEX wallets.
Jurisdictional incorporatin and geofencing is a very grave threat to bitcoin.
[link] [comments]
No comments:
Post a Comment