More completely decentralized exchanges will be created and user base will grow making it virtually impossible to meaningfully regulate.
Or, people will adopt the use of proxy's or TOR and simply stop using US based exchange's altogether. Again making it virtually impossible to meaningfully regulate.
In summary, this legislation is virtually meaningless to everyone except the company and their employees. Government failed again by being short sighted, slow and failing to comprehend the space they were regulating.
Poloniex have announced that they will cease operations in the state in connection with the new law.Others sought official permission such as the new York stock exchange start - Gemini
I think the outcome will be one of two things.
More completely decentralized exchanges will be created and user base will grow making it virtually impossible to meaningfully regulate.
Or, people will adopt the use of proxy's or TOR and simply stop using US based exchange's altogether. Again making it virtually impossible to meaningfully regulate.
In summary, this legislation is virtually meaningless to everyone except the company and their employees. Government failed again by being short sighted, slow and failing to comprehend the space they were regulating.
Good opinion. I agree that this legislation won't stop a savvy internet user.
Poloniex have announced that they will cease operations in the state in connection with the new law.Others sought official permission such as the new York stock exchange start - Gemini
That's not an opinion you are just parroting what's already been said in the article.
Poloniex will harm society which wants development and is a legit and hardworking