While regulation may enter the crypto space, a license to use money has yet to exist in US history, therefore it would be unprecidented.
Currencies like Monero are specifically designed to subvert attempts to know who uses it, so:
Expect to see things like laws limiting purchases, deposits or requiring exchanges to file tax info on their users USD purchases.
Fortunately, the Federal Government really can only regulate the fiat gateways that exist inside the United States.
Thank you for your continued contributions @dana-edwards and may 2018 continue to bring you Steemit success!
-The Beached Whale-
Editor in Chief - The Anderson Report
I am working to build an exchange here in Canada that will be have nodes located on Indian Reserves. There are all sorts of legal jurisdictional issues at play to make it a worthwhile venture.
Ill follow that . upvote it to.
@somena,
Please publish on this topic as you make progress, and Godspeed. I'm following you now.
Years ago, in the U.S., a group of people tried to establish a bank within an Indian nation jurisdiction. The fedgov simply moved in and destroyed it, and pretended to "help" all of us poor investors who had been "defrauded" by the founding group.
😄😇😄
We got in touch with a company that offers a turn-key approach -- but they require $300,000 a year. We are thinking that since we are the largest meetup group involved with Crypto in Victoria that we might start the exchange on a P2P system and do arbitrage with the bigger exchanges. But we are still exploring. I am networking right now with the traditional hereditary leaders of various First Nations to see how much interest there is in participating. So I will keep people posted as we go. :)
Thank you, @somena, for your response. I wish you the best of success.
Have you discussed this with @stan here on Steemit? I have a passing acquaintance with him. I may be talking out of school, but somehow I have a feeling that he may be able to offer valuable advice and possibly even some assistance.
Please do check out @stan's blog, where I think you'll find some very interesting material.
Brilliant idea.
If you look into it - You can read up on Native Law in Canada and discover that from a jurisdictional standpoint - Indian Reserves are Federal Jurisdiction. There are no Federal Laws that deal with commodities or exchanges as of yet... and even if they do -- There is a Charter of Rights and Freedoms argument to be made... See Indians from my community have a tens of thousands of year cultural history of gaming, and potlatch (our banking system) - Under the Charter, we have the right to excercise the practices that allow us to keep our culture alive. Under case law, we are allowed to practice such cultural activites in modern form.. (as an example, our right to fish does not keep us from using Trolling Boats and Nets... instead of weirs and spears) -- We don't need to hunt deer with Bows and Arrows... We can use guns.... Well... we had an exchange of currencies in our potlatch system... we also played a gambling game called Sla-hall... where people would wager years worths of their earnings at a game.... So we make the case that we have the right to engage in these practices... ALSO -- the United Nations Declaration on the Rights of Indigenous Peoples (which Canada and the Province of BC has accepted) declares that we have the right to self-determination.... Sooooo what does this all mean... IN THE VERY LEAST... if the STate challenges our right to do this -- we can look forward to a 20 year court battle before it's settled. In the meantime unless there is some compelling harm, the property of an indian can not be seized from an indian reseve.... That's part of our thinking on this.
need help!? sounds like an awesome project!