Quote from: Gab0 on September 22, 2018, 02:00:38 AM

Bitcoin Core Developer Joins Forces With Former Morgan Stanley Exec To Warn SEC
https://www.forbes.com/sites/michaeldelcastillo/2018/09/21/bitcoin-core-developer-joins-forces-with-former-morgan-stanley-exec-to-warn-sec/#338841615baf

Quote

In the letter, published late last night, bitcoin core developer Bryan Bishop, former Morgan Stanley managing director Caitlin Long, e-commerce coding pioneer Christopher Allen, founder of Ernst & Youngs blockchain team Angus Champion de Crespigny and fund manager attorney Gavin Fearey warned the SEC against certain types of enterprise adoption.

Long considered a boon to the cryptocurrency space, the letter argues that enterprise adoption could actually corrupt some of bitcoins inherent benefits if not properly overseen. Specifically, the letter warns against practices employed by the Intercontinental Exchange (ICE), which owns the New York Stock Exchange and recently announced its intention to launch a cryptocurrency exchange of its own.

Among a number of recommendations made in the letter, Bryan Bishop, who has been contributing to bitcoins core code since 2014, argues that the biggest change the SEC needs to implement is to partner directly with cryptocurrency engineers to develop a new kind of regulation.

...

Specifically, the letter, dated September 19, 2018, argues that restrictions should be put in place on how Bakkt, ICEs planned cryptocurrency exchange, might handle cryptocurrency when it launches.

In a section headed We caution against applying rules to digital assets in ways which do not reflect their strengths, the authors of the letter warn that the traditional financial practice of storing customer funds in a single account would undermine some of the core strengths of cryptocurrency.

Edit: Does the SEC really need to protect bitcoin? Was not the SEC supposed to protect itself from bitcoin?

Edit2: I'm sorry if this was published before.

I know they have good intentions with that letter but the SEC doesnt oversee ICE and the SEC is not going to take the time to learn all that stuff.