Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

The regulations for handling securities are through a brokerage. This is a HUGE deal because handling crypto through a brokerage would basically neuter it.

Imagine trying to buy a pizza with Bitcoin, but you have to go into your Charles Schwab account and wait 3 days for the Bitcoin transaction to settle. In a brokerage system you would get the ownership stake aspect of crypto, but none of the transactional ones.



The settlement time on stocks is minutes. There is no requirement that brokerages are slow to settle. That is your brokerage choosing to be risk adverse.


The requirements are set by the SEC:

https://www.sec.gov/about/reports-publications/investor-publ...


I'm going to repeat myself.

There is no requirement that brokerages are slow to settle.

There is a requirement - the one you linked - that a brokerage may not take MORE than three days.

It does not require them to take three days. A brokerage can settle as fast as it can.


> This is a HUGE deal because handling crypto through a brokerage would basically neuter it.

Nah, it's still an equity. People don't buy pizza with their Microsoft stock, but they still buy Microsoft stock.

Even crypto fanatics use Venmo.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: