Personally, I don't think regulations are the answer. For me, one of the attractions of Bitcoin is that there's no government involvement in the currency. It's more than just 'no central bank' but I don't want any government interference with it.
What I do believe is needed are standards. The community (maybe even the Bitcoin Foundation) should come up with a set of security and transaction standards that the community accepts. Users would then simply have to refuse to do business with any person or organization not adhering to those standards. Then, if you want to take a risk on some shady deal, so be it. But you can't blame anyone if you get scammed.
Crypto
Topic: Not a hot topic - Regulations (Read 1001 times)
The main reason MPEx doesn't require audits (yet) is that there's not really anyone capable of doing audits in BTC yet. We're trying to encourage people to put the work into the right directions and eventually grow that way, but it's slow going. Work and success hold little appeal, stupidity and failure are everyone's darlings.
Cryptostocks, allows different levels of verification.
But its mainly up to the consumer to due research on the character of the Asset Issuer.
Its in your best interest to reach out and talk with the asset issuer, if you have a question that you couldn't find the answer for.
The Best way is to invest in transparent Assets, the ones where they give the most information. Less Risk IMHO
But its mainly up to the consumer to due research on the character of the Asset Issuer.
Its in your best interest to reach out and talk with the asset issuer, if you have a question that you couldn't find the answer for.
The Best way is to invest in transparent Assets, the ones where they give the most information. Less Risk IMHO
Do you think we need some type of regulations or a group of security's / exchanges that have requirements, auditing, etc.?? Does this already exist in some way? Could it work?
Well, it will vary. Here, MPEx describes the restrictions on listing through them:
- http://polimedia.us/trilema/2012/how-does-one-list-on-mpex
While it doesn't enforce that the issuer undergo audits, there is nothing stopping the issuer from voluntarily undergoing an audit and releasing the results, and perhaps even requesting an investment rating.
I am kind-of new to bit-coins and see exchanges, securities, even a market place like GLBSE however most "investments" seem to be questionable at best.
Do you think we need some type of regulations or a group of security's / exchanges that have requirements, auditing, etc.?? Does this already exist in some way? Could it work?
OF course you can still have a black market, grey market, etc... But a market that investors can trust the securities within them have been audited, companies are not being ran by convicted criminals, in a basement, etc.
Do you think we need some type of regulations or a group of security's / exchanges that have requirements, auditing, etc.?? Does this already exist in some way? Could it work?
OF course you can still have a black market, grey market, etc... But a market that investors can trust the securities within them have been audited, companies are not being ran by convicted criminals, in a basement, etc.
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