so interesting thing: their compliance shit is “stop violating sanctions you fucks” and “keep the hell out of the US”. That’s what’s being enforced. The actual trading floor is not regulated by any governmental entity at all.
So we expect they’ll come up with various ways to get the money from their customers, probably with one or two layers of indirection - perpetual KYC loops for withdrawal (an extremely popular trick throughout crypto), trading against their customers even more than they do now and so on.
I cannot imagine the type of gambling problem needed to keep playing craps even when the cash cage refuses to redeem your chips and a crew of repo guys is taking away half the casino
maybe the real innovation in crypto is the level of social control needed to prevent their gamblers from cashing in their chips or take their eyes off the craps table at all
so interesting thing: their compliance shit is “stop violating sanctions you fucks” and “keep the hell out of the US”. That’s what’s being enforced. The actual trading floor is not regulated by any governmental entity at all.
So we expect they’ll come up with various ways to get the money from their customers, probably with one or two layers of indirection - perpetual KYC loops for withdrawal (an extremely popular trick throughout crypto), trading against their customers even more than they do now and so on.
I cannot imagine the type of gambling problem needed to keep playing craps even when the cash cage refuses to redeem your chips and a crew of repo guys is taking away half the casino
maybe the real innovation in crypto is the level of social control needed to prevent their gamblers from cashing in their chips or take their eyes off the craps table at all