What are "they" going to do when we have the numbers and the "money"? Hopefully coinbase can help stop the favoritistic regulation but it is just a matter of time until "their" system is no longer the system. Till then, we can try to slow them down. Criminals they are.
Charlotte, NC is the second-largest banking center in the US, after NYC!
To expect that the bankers would just leave crypto alone in their southern capital, after what they did to it in their northern capital, is unrealistic.
(NC is also:
In the top 10 states with the highest number of state and local employees per capita.
USDOD is one of the top funding sources of its economy.
In the top 5 in terms of the number of military people.
Has 9% of US towns with lowest incomes.
36th ranked among US states in terms of people who have a high-school education.
The point is that when so much of the population is making its living from the looting power of the government, crony-capitalism, fascism, militarism, or just getting by due to low income and/or education, it's natural that their elected officials would be among the first to move to "protect" them from the "dangers" of unregulated money transmission...)
No, that's small minded. Lobbyists are well funded by thousands of organizations that would rather not pay them a dime. This is strong evidence that lobbyists are effective to enact social and political changes (some of which are good for humanity).
Maybe it would be better to *build an alternative system* and hope it eventually displaces having people pay others to gain status and weld influence, but in the meantime, refusing to play this game is like pretending not to live among humans.
It would be good to know what Coinbase's POV of the current legislation is - and where they stand on their lobbying efforts.
NC's legislature adjourned this week without passing SB680, so at least there's time for thoughtful input from the community. But it needs to happen soon, because the legislation will come back next session.
Perhaps Coinbase can sponsor/ attend one of the meetup events where locals are already discussing this issue.
Not sure, though I'd guess slightly less onerous because Bitlicense was crafted explicitly for Bitcoin. This bill simply updates NC's existing money transmission regulations to cover digital currencies.