BREAKDOWN: Hamstringing an Industry With Compliance Costs | January 7th, 2020

BREAKDOWN: Hamstringing an Industry With Compliance Costs | January 7th, 2020

In their annual transparency report, Kraken reported seeing a 50% increase in regulatory inquiries as compared to 2018, which CEO Jesse Powell later revealed cost the exchange more than $1m. Between this and stories like the $2m it cost Blockstack to raise $23m in an SEC compliant token sale (8.7% of the raise), it begs the question: will compliance costs fundamentally limit innovation by demanding big war chests to play? Will the most successful companies be those who (like Block One) simply raise enough to pay off the regulators on the back end? We also look at new mining interests in Texas and what it means for American mining and bitcoin mining in the lead up to the halving more broadly, as well as dissect an op-ed from the IMF’s chief economist on the strength of the dollar over digital alternatives. Topics discussed Kraken annual transparency report shows off growing regulatory inquiries and increasing cost of compliance Related Article: Law Enforcement Data Requests Rose by Almost 50 Percent in 2019, Says Kraken New global interests in giant Texas-based bitcoin mining operation Related Article: SBI, GMO to Rent Capacity at Massive Bitcoin Mine in Texas: Report The IMF’s chief economist on why digital currencies don’t threaten the dollar’s global reserve currency status Related Article: Digital Currencies Won't Replace US Dollar Any Time Soon: IMF Chief Economist See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Jaksot(3946)

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Why Bitcoin Miners Are Losing $19,000 per Coin | CoinDesk Daily

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Will Bitcoin's Rally End in a "Sell the News" Dump? | CoinDesk Daily

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