Shapeshift CEO asks Financial Regulators to hug Cryptos

Erik Voorhees, CEO of cryptocurrency exchange Shapeshift, called on regulators to accept cryptocurrencies as a competition to the existing financial system
12 June 2018   1840

Voorhees expressed his point of view in an interview with Bloomberg. He displayed some problems within the cryptocurrency industry, including regulation, competition and the future of Switzerland-based Shapeshift AG. Voorhees confirmed the existence of centrally-issued money is incongruous to the existing framework of a market-based economy. Then he compared the issuance of money to a manufacturer of shoes and claimed if strict regulations prohibit the latter from getting a monopoly in the market, the same ideology must apply to fiat currencies.

Voorhees said that money is the foremost good in a market-built economy and have be open to competition:

Most regulation is superfluous at best, and a lot of it is quite harmful. Even if someone doesn’t buy into the idea that cryptos will overtake fiat, most people should at least be interested in the fact that competition is now happening. That’s generally seen as a good thing.
Erik Voorhees,
CEO, Crypto Exchange Shapeshift

Shapeshift CEO also expressed an opinion that the present model of regulation makes problems instead of remit them. Criticising American cryptocurrency regulations, he continued:

Regulation should focus on preventing fraud and theft. There is no need for thousands of pages of regulations to prevent fraud. Most of the regulations have nothing to do with preventing fraud. Consenting adults who are not cheating each other should be allowed to interact economically in any way they see fit.
Erik Voorhees,
CEO, Crypto Exchange Shapeshift

Voorhees supposes that growing regulatory legislation has a positive correlation to “brain and capital flight” in the crypto sphere, citing the example of the New York-based BitLicense. At the end of the interview, Vorhees hinted at the SEC’s ambiguity over Initial Coin Offerings (ICOs) as another reason that impacts Shapeshift’s reluctance to run an ICO.

Poloniex to Bring Back the Trollbox

According to Poloniex owner, the "most frequent request has been, “BRING BACK THE TROLLBOX”, a general topic chat  
19 June 2019   147

Due to numerous requests from users, the Bitcoin exchange Poloniex activated a general chat, better known as Trollbox.

You’ve been asking for it and we’re excited to tell you IT’S HAPPENING: Trollbox is back! Poloniex’s Trollbox is the original forum for traders to talk all things crypto. Our legendary mods are ready to go, armed as always with the mighty Banhammer to maintain order.

Poloniex Team

From now on, traders can again communicate on a wide range of topics without leaving the stock exchange, and moderators will use the legendary ban-hammers in case of violation of the rules.