Old news buddy. The market has already compensated for the news, and it has climbed since then. Austrailians will soon learn the gravity of their mistake.
so what are you on about? No rules no regulations, anybody with a 2 page statement can start a financial instrument ( ICO) anybody with computer can start a "Exchange" is it? cult follower !
I'm not on about anything. You're the one that started talking to me. It's not my fault you failed to prove a point...
WHAT point I have failed to prove? the point is other jurisdictions are also concerned about these "unregulated exchanges" apart from giants like SEC.. but it seems for die hard fans of these Crypto mania it is irrelevant!
If you ( means Coinbase and Biance) why are there court actions and AFSL cancellations? also why don't these so called exchanges get regulated in first place in a major jurisdiction ! and you have nothing to say on Exchange failure ? when was the last time NYSE/CME/ ASX/ SGX/ LSE went out of business!
at least in the countries they have been banned for the time being the business is over unless the get regulated but they may! like FTX and others who knows I am just pointing out there are issues with them with many regulators...others also BITMEX all regulate din tin pot jurisdictions but it futile talking to you .. you are die hard fan it seems . simple logic is people are prepared to take market risk even the volatility of the Bitcoin but a trader / investor does not sign up for exchange itself going out of business...! + the hanging questions is what is a security and what is not ! There are many exchanges venues regulated by CFTC so why these companies shy away form it is a mystery.. it seems they don't want any scrutiny ...
First of all, I am not a die hard crypto fan boy. It might seem like I am but I am really not. I am an independent thinker that is on the side of freedom of money. With that being said, if the US dollar would improve then I would be all for it, but it's not, it's getting worse. That's why I lean more toward the crypto side since it is decentralized. But hey if you like having authorities controlling you with their hands in your pockets then more power to you. And there is a lot that you don't know about with FTX and the SEC. A lot of corruption, even I don't know the whole story. But there will be more documents released in the near future and it supposidly has some very very juicy evidence of Gary Gensler helping SBF of FTX to navigate around all the regulations that the SEC put into place. And since Gary Gensler had a connection with SBF (We all know he was profiting from), ever since FTX has gone down Gary has been on an anti crypto mission to sue and wipe out all the big players of crypto so that organizations that he's involved in can move in and succeed.
If you paint everything with a brush of :authorities controlling you with their hands in your pockets" then there is nothing further to say.. what is next? unregulated medical facilities? unregulated civil engineering... reg if current SEC is corrupt or not is diff issue, ASIC is a independent of Gary Gensler,, so why did it took action? but then again you don't like regulations and ASIC is perhaps a tinpot regulator fora country of 26 million although it is world's 11th largest economy but any way let dog eat the dog