RT @YangVentures: US may come after you if you violate US law.
Such as defrauding US investors, laundering US dollars (pur currency, our rules).
Stop playing lawyer. You're not even good at Googling this stuff. https://t.co/iWBGW19lei
Andrew "Not cool enough for an ETH scam" Glidden - @asglidden9 months ago
RT @Tr0llyTr0llFace: “The US government has no jurisdiction outside of the US!”
SEC shuts down 1Broker, an exchange in the Marshall Islands.
“Bitcoin can’t be censored!”
1Broker users get their Bitcoins frozen.
“Bitcoin isn’t manipulated!”
BTC/USD doesn’t react to the news.
FREEDOM .. keep telling you guys the USA is the opposite of free markets it is under communist fascist control.. i..e centralism and corporatism. Yet even on reddit I C the herd supporting it and PRETENDING us gov is legit.. it's not its an oligarchy
They were documented repeatedly and handwaved the discrepancies away. "oh, the different price feeds for different users is just an API bug errrr I mean just a lag issue yea!"
A money making exchange on a popular tax haven laundering property with even a 1% spread = laundering potential. There is absolutely no way around that.
To a degree that I'd be surprised if it wasn't a fucking honeypot to begin with and the "FBI seizure" is just a bullshit narrative aka silk road that makes the crimefighters look like they're fighting crime and encouraging copycats for this "market in need."
A couple of exchanges have closed down over the last few days. Not all have been forcibly shut by the SEC or other regulators. Some have been due to financial reasons. Will this become a trend? Lots of exchanges opened up in 2017-18 and surely not all of them can be profitable or compliant.
What the fuck man. 1Broker had such a great reputation, provided an amazing service, and the SEC has to go shit on them. 1Broker never stole any BTC and provided a good service to their customers. Yet the scammers in the crypto world walk free. Ridiculous what federal regulators will do to shit on people being able to participate in markets freely.
Guys if you cant already see the writing is on the wall. The US is cleaning house on all of this so they can be the ones profiting from the cryptocurrency market they are clearing the path Bitmex is probably next.
It was good when they had btc trading but they were losing too much money so they removed it. Crazy seeing this but the owners seem to be being transparent. SEC is on a roll today, first Elon, now this.
"US" doesn't have rights. People have rights. If the SEC spent half the time they did bringing down 1broker on the gold / silver / BTC futures.....
The only ones being violated are people by governments.
Corporations are considered people, and corporations are being protected via the lawmakers hand in glove.
You seem to be omitting that the governments are representing people who get rich when things like this happens. It would be less naive to claim that a powerful corporation in the US (or the illuminati of "what suppresses the most") ordered this hit of a rogue profiteer than to state that "people are violated."
the us gov considered this a bad actor, and by reflexive considers something else a good actor. And the gov is under the auspices of having the US prosper as a whole. In their eyes this is the big business that lines the coffers, of course.
I guess you can refer to your idealism all day long, but then don't be surprised when the reality of how the system actually works shows itself.
Only in a twisted world, like law, would something intimate be heralded as a human. It's like calling a forest a tree. Maybe you're a robot and don't care about how deflaming that is.
Just because 500 people agree, and wrote on paper a corporation is a person - doesn't make it so.
And what actions should the SEC be allowed to enforce on foreign companies not operating in US dollars with no US presence? Seems pretty ridiculous to me.
They also aren't trading US stocks but derivatives of US stocks. The only thing the SEC has to complain about seems to be that Americans can use the Internet, and if that is the problem then put up a great firewall like China and see how the electorate likes it.
> And what actions should the SEC be allowed to enforce on foreign companies not operating in US dollars with no US presence?
Whatever actions the pissant country allows the US to do, obviously.
There are plenty of websites + apps that don't allow visitors/users from out-of-jurisdiction countries, that have much less at stake than this. So the "great firewall" will be put up by the targets, not the US.
I love how all of this ire is directed at the US and not the countries that bend over for the US.
Be mad at the Marshall Islands. Be mad at capitalism. But to be mad at the benefactor is a bit silly.
What you are saying is that it is up to foreign companies to conform to SEC regulations. That's absurd. If the federated states of micronesia insisted everyone offering an online service accessible to its citizens register with their government or setup a geofence American companies would laugh. It is entirely unreasonable to expect foreign entities to follow your regulations. If you don't want people in your country accessing certain websites, block them yourself. The onus of responsibility should be on the country trying to enforce regulations internationally.
Just imagine for ten seconds everyone behaved the way the US is on the international stage. Would any company reasonably be able to follow all those conditions from foreign governments, and as important should they have to?
You think people should be mad at the pissant countries being economically and politically bullied as opposed to the bully? That's some amazing ethnocentrism you have.
Agreed. It’s ridiculous.
At the same time, this company is based out of the Marshall Islands, which has “free association” with the US. Not really sure if that matters or not, but it may. I’m not too sure what it means for jurisdiction.
I also have no idea what free association means for jurisdiction - but I do know the federated states of micronesia/marshall islands have their own constitution, federal government, congress, and judiciary. They call the introduction of the free association compact their "independence", and [legal guides](http://www.marshallislandslawyers.com/u-s-law-guides-marshall-islands-law-and-practice) note that US law may influence local law as many provisions are modeled explicitly upon US examples but "the courts are not bound by foreign law".
Not that the US imposing its own laws internationally is anything new. They have successfully imposed their monetary regulations on all their trading partners and are attempting to do the same with copyright. It's a sick world.
blah blah blah he sold things to US citizens.
also, what are you even trying to assert with copyright? that someone that creates IP in one country should not be protected from having it stolen in another country? Obviously the government should lean on the country where it is happening to protect their citizenry and GDP, yes?
I am asserting the US likes to pressure countries through trade deals to adopt US regulation, oversight, and law. An example is the way they shoehorned copyright into the TPP - which was removed after they dropped out. Another example the way they forced countries like Switzerland to report all their banking customers or be blackballed from international finance.
It's an obvious encroachment on other countries sovereignty. It's plain bullying.
Do I think that US copyright law is in any way reasonable? Not at all. The length of time things are copyright is insane and there aren't even the most simple of provisions allowing the violating of patents to for example support generic prescription drug markets, a pretty important thing for every other country in the world shouldering health care systems. Also kiss the free use of copyright material by the state owned media goodbye, like the BBC.
The US is a bully, and what works for you doesn't necessarily work for everyone else. Hell it doesn't work for you either. Your laws are written by money and strike no balance between corporate and consumer interests
So? World is, was and will always be about power. People, institutions and states concentrate power to have... power. Once you have it, you use it and abuse it.
Of course many nice documents, laws, constitutions are written, but that is always just a cover up to the real situation which is that everything is about power.
I absolutely hate what US are doing. Because I am not from USA and therefore I do not participate on it and it involves me on personal level as well. But I understand what they are doing. They can not leave the power on sidewalk, even if they were so stupid. Someone else would pick it up.
Solution is not to ask for more fair behavior. Solution is that everyone will start to accept the reality and demand less guarantees, not more. Because all guarantees and political decisions are here just to give people a fake security and fake hope.
USA abuse the power in the way you describe it and everyone should accept that. I talked to the bankers you mention and they accept it, because that is life. The more people accept the situation the more they will be ready to work with bitcoin (which is btw. a direct consequence and counterattack against the power abuse). Wasting time with pointing out the obvious is the worst thing that people can do.
>World is, was and will always be about power. People, institutions and states concentrate power to have... power. Once you have it, you use it and abuse it.
This is very true. All that is going on in the US Senate right now, with the Supreme Court, just boils down to power.
And going after crypto exchanges is about power too, as they pose some threat to the status quo financial system- probably not a total replacement, but they will reduce growth in the banking and payments sector, as well as dislodge rent seekers in other businesses that can be decentralized.
Shutting down crypto exchanges that do not serve US IP's is overreach though, and as has been mentioned, a brash insult to sovereignty.