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It’s generally agreed that location is an important consideration in counterparty risk. If you are registered and regulated in North America, you are seen as safer than someone based in Palau. But how do you convert this intuition into a number that can be used for managing risk exposure? It’s not as easy as it may sound.
The migration of skilled jobs offshore is a recurring American anxiety. Its visa system is too complicated. Exchange rates are manipulated. US businesses are hamstrung by red tape.
In a widely expected move, the US Securities and Exchange Commission (SEC) sued the world’s two biggest crypto exchanges in federal court this week. The main SEC assertion is that most cryptocurrencies are securities, and accordingly, US law requires these exchanges to register with the SEC.
As Warren Buffett once opined “only when the tide goes out do you learn who’s been swimming naked.” It certainly feels like the waters have been receding on the crypto community over the past year.
