Quote from: Nomen nescio on June 24, 2011, 09:17:41 AM

The frankly hilarious incompetence with which MtGox has been operating cannot be allowed to continue. Regulation, no matter what some of you seem to think of it, exists for a reason, and it is to prevent things such as this. Had there been accurate reporting, disclosure, meeting of capital requirements, self-regulatory structure and organization, safeguards against market manipulation, and so on, perhaps this all could have been avoided.

What would be avoided exactly? Hacking of accounts?

Quote from: Nomen nescio on June 24, 2011, 09:54:28 AM

And really, yes, I did speak with the FSA. If Mark has complied with all applicable laws, then everything will be fine. But I assure you, they will be investigating.

This can only help make the road more bumpy. If the problem were about their capital, sure, but I think in this case you are way off. Why would anyone try to make it harder for them to recover is beyond me. At least in this case, the problem is not what you think it is. I suggest that instead of trying to prevent crimes, which you can't by more regulation, maybe you could focus on what the crime is and who committed it.

Of course, in your line of thinking, we could regulate the Internet to prevent such attacks ever happening. That would solve all our problems, wouldn't it?

EDIT: And yes, they have locked my account with a considerable amount of dollars in it and unreasonably rejected my claim. Yes, I find it rather incompetent. No, I wouldn't prefer them not ever existing in the first place. Let me choose who to trust. Maybe if this "regulation" authority were an NGO and give a badge of sorts to complying exchanges, that would make some sense?