On: Statement on Potentially Unlawful Online Platforms...

[Osiris]

I didn't see any cryptocurrency exchanges in their list of approved exchanges. How does one find out whether a cryptocurrency exchange is registered properly with the SEC?

[icebraining → Osiris]

Probably none. Apparently they tend to register as money-transmission services: https://www.ccn.com/sec-chairman-to-testify-they-are-open-to...

[projmayhem → Osiris]

It's very simple. The SEC will prosecute one of the big boy "exchanges" and bring that company to a screeching halt. All of the rest will have to meet stringent regulatory requirements in order to service American customers.

[lagadu → projmayhem]

This only works for US-based exchanges though.

[pjc50 → lagadu]

Tell that to the poker companies. https://en.wikipedia.org/wiki/United_States_v._Scheinberg

[matthewbauer → lagadu]

I think it would be any exchange holding Americans' assets. Note that lots of countries will follow the US lead on this too.

[paulsutter → Osiris]

Coinbase/GDAX have always focused on compliance, and Circle discussed the Poloniex acquisition with the SEC beforehand, and both are actively working with regulators. How that turns out will be interesting to see

[matthewbauer → Osiris]

It sounds like Poloniex (Circle) might have made a shady deal with the SEC. They could be the only ones that have though.