If you're interested in how Silicon Valley regulators evolved to allow virtual currency (bitcoin) startups to do whatever they wanted while cracking down on responsible players using only USD, here are two videos from 2013 I dug up:
I don't always agree with Matt, but this is 100% correct.
I’m so angry at the thousands of professionals in fancy law firms, banks, auditors, political operatives who acted like crypto was real so they could make money. They should be hugely embarrassed.
Anyone with half a brain knew this day would come. The only surprising thing is that it took so long. And congratulations to the Federal Reserve, Department of the Treasury, IRS, OCC, CFTC, SEC, California Department of Financial Protection *and Innovation* (ahem), NYDFS, and of course, Congress, for allowing this to happen with years upon years of warning.
Unlike Twitter, it's also possible to upload PDF files. Here's a PDF from 2013 that is related to cryptocurrency regulation. A lot of what I used to do on Twitter involved taking screenshots of PDFs, so it's kind of nice to be able to skip that step sometimes and just post the file instead!
As banks are becoming increasingly dependent on technology, and technology companies are increasingly capable of offering financial services, there is a gray area of financial regulation related to money transmission by non-banks that is becoming inc...
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