Regulatory uncertainty - Githubissues

xaur commented 5 years ago

Announcements:

2019-05-16: Poloniex: announced that they will disable markets for 9 assets (including DCR) for US customers on May 29, citing "regulatory uncertainty" or "it is not possible to be certain whether US regulators will consider these assets to be securities" (Twitter thread)
2019-05-20: Poloniex: follow-up blog post that references SEC's statement on Framework for 'Investment Contract' Analysis of Digital Assets as a direct trigger for the move
2019-05-23: Poloniex: another follow-up post that elaborates on the interpretation of the framework
2019-06-07: Bittrex: will stop trading of 32 assets for US customers on June 21, DCR is not in the list
2019-06-12: Gate.io: will stop trading of 19 assets (including DCR) for US customers on June 30. They also cited "regulatory uncertainty" but did not link to any specific documents. Interestingly, the list includes XMR which is a sovereign decentralized currency without any voting features (which are speculated by some to be the source of "uncertainty").
2019-06-14: Binance: announced they will stop deposits and trading on Sep 12 for users that "are not in accordance" with the updated terms. This was an indirect announcement of restricting US customers, as the updated terms said "Binance is unable to provide services to any U.S. person". The terms were later updated with a more general statement "may restrict or deny the Services in certain countries at its discretion". Same day they announced a launch of a FinCEN-registered Binance.US exchange specifically for US customers. According to The Block, US accounted for 15% of Binance.com's traffic, down from 30% since early 2018.
2019-06-18: Bancor announced restrictions for US customers (added for context, no impact on Decred).

Other links:

Asset geofencing FAQ (Poloniex)
Geofenced assets and features (Poloniex)

Analysis:

2019-06-09: Fiach_Dubh's analysis of SEC's Framework for 'Investment Contract' Analysis of Digital Assets with respect to Decred, "There's a 47% chance that Decred is an investment contract and trades like a security".

Discussions:

2019-05-16: why is Poloniex geofencing Dered?
2019-05-16: a theory that bankers trying to suppress the price to buy some cheap DCR
2019-05-19: should Decred withhold privacy release until SEC declares it is not a security?
2019-05-23: it's weird that something that is not "not a rule, regulation, or statement of the Commission" triggered a real move from Circle
2019-06-08: interesting that Bittrex didn't geofence DCR in their June 21 market availability changes
2019-06-09: discussion of Fiach_Dubh's analysis of the SEC framework; confusion about who are "Active Participants", idea that the whole document is targeted at ICOs and fundraising and not cryptocurrencies
2019-06-26: will Bittrex follow Poloniex?
2019-08-11: whether paid market maker will put Decred under scrutiny, chances of a DCR to be a security

BitcoinArbitor commented 5 years ago

Here is some more commentary and analysis behind the geo-fencing of DCR on Poloniex, including a run through of the SEC's framework and comparing it to Decred to see how it measures up.

https://medium.com/coinmonks/the-regulators-are-coming-a1ba2f8c02be

xaur commented 4 years ago

Generalized to cover all exchanges, added more links.

xaur commented 4 years ago

2019-08-09: Binance US is considering 30 assets for listing in the US, DCR is not in the list. They mentioned a 5-item asset listing framework with number one being compliance.

decredcommunity / issues

Regulatory uncertainty #133