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<blockquote style="position: relative; padding-left: 55px;"><section><a href="https://hachyderm.io/users/molly0xfff/statuses/113602857822862602">Molly White (molly0xfff@hachyderm.io)'s status on Friday, 06-Dec-2024 08:40:49 JST</a><a href="https://hachyderm.io/@molly0xfff" title="molly0xfff@hachyderm.io"><img src="https://gnusocial.jp/avatar/34789-48-20230824095227.webp" width="48" height="48" alt="Molly White" style="position: absolute; left: 0; top: 0;">Molly White</a><div><a href="https://hachyderm.io/@molly0xfff/113602854576684220" rel="in-reply-to">in reply to</a></div></section><article><p>Even as we reflect on Celsius and the massive failures of regulators, politicians are boasting about plans to hobble regulators even further. If they are successful, I fear countless more people will continue to rely on regulators even in their absence, and be ruined because of it.</p><p><a href="https://hachyderm.io/tags/crypto" rel="tag">#crypto</a> <a href="https://hachyderm.io/tags/cryptocurrency" rel="tag">#cryptocurrency</a></p></article><footer><a rel="bookmark" href="https://gnusocial.jp/conversation/4131775#notice-8074715">In conversation</a><time datetime="2024-12-06T08:40:49+09:00" title="Friday, 06-Dec-2024 08:40:49 JST">about 2 months ago</time> <span>from <span><a href="https://hachyderm.io/@molly0xfff/113602857822862602" rel="external" title="Sent from hachyderm.io via ActivityPub">hachyderm.io</a></span></span><a href="https://hachyderm.io/@molly0xfff/113602857822862602">permalink</a><h4>Attachments</h4><ol><li><label><a rel="external" href="https://gnusocial.jp/attachment/3639260">While some say that people just have to be on high alert at all times and in every interaction for possible scams, the reality is that most people just don’t expect companies to lie to their faces — particularly US-domiciled companies that they expect to be under the watchful eye of regulators. Most people don’t think twice about whether the bank they’re signing up with is likely to collapse — and many people who encountered Celsius didn’t understand that Celsius was meaningfully different from a bank.Even as we reflect on Celsius and the massive failures of not just financial regulators, but regulators like the FTC who are meant to prevent deceptive advertising, politicians are boasting about plans to hobble regulators and make them even less effective in fulfilling their mandates. Should they succeed in these plans, perhaps some will react by putting their shields up, adopting the degree of suspicion nearing paranoia that may be required in an every-person-for-themselves world without adequate regulators. More likely, countless more will continue to rely on regulators even in their absence, and be ruined because of it.</a></label><br><a href="https://media.hachyderm.io/media_attachments/files/113/602/856/239/426/718/original/b5109f7c3f439aa2.png" rel="external">https://media.hachyderm.io/media_attachments/files/113/602/856/239/426/718/original/b5109f7c3f439aa2.png</a></li></ol></footer></blockquote>

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Molly White (molly0xfff@hachyderm.io)'s status on Friday, 06-Dec-2024 08:40:49 JST Molly White
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Even as we reflect on Celsius and the massive failures of regulators, politicians are boasting about plans to hobble regulators even further. If they are successful, I fear countless more people will continue to rely on regulators even in their absence, and be ruined because of it.
#crypto #cryptocurrency
In conversationabout 2 months ago from hachyderm.iopermalink
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1. While some say that people just have to be on high alert at all times and in every interaction for possible scams, the reality is that most people just don’t expect companies to lie to their faces — particularly US-domiciled companies that they expect to be under the watchful eye of regulators. Most people don’t think twice about whether the bank they’re signing up with is likely to collapse — and many people who encountered Celsius didn’t understand that Celsius was meaningfully different from a bank. Even as we reflect on Celsius and the massive failures of not just financial regulators, but regulators like the FTC who are meant to prevent deceptive advertising, politicians are boasting about plans to hobble regulators and make them even less effective in fulfilling their mandates. Should they succeed in these plans, perhaps some will react by putting their shields up, adopting the degree of suspicion nearing paranoia that may be required in an every-person-for-themselves world without adequate regulators. More likely, countless more will continue to rely on regulators even in their absence, and be ruined because of it.
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