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Comment by pcl | Hacker News Reader

My interpretation of peyton’s comment was that the crypto industry players these days incorporate in places with more legal and regulatory flexibility than the US these days, not that something has changed in US regulations to make Delaware less favorable.

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Is it just me or does this raise more red flags than a soviet parade?

If an industry needs "more legal flexibility" that just screams scam to me.

All insurance is in Bermuda. The federal reserve used cayman entities to send stimulus checks. Most not for profit orgs in the USA use Puerto Rican or offshore hedge funds to avoid withholding

> The federal reserve used cayman entities to send stimulus checks.

This is a heck of a claim given that stimulus checks were issued by the US Treasury, not the Fed.

Bermuda has a lot of reinsurance that I know of. What insurance are you referring to?

>If an industry needs "more legal flexibility" that just screams scam to me

IIRC Stem cell reserarch is limited in the USA given the puritanism in its society and laws.

I wouldn't say that Stem Cell therapy is a scam per se.

Sometimes, laws fall behind progress in some countries.

Stem Cell Therapy has a fairly obvious use case though. Ten years in, the most popular use cases for crypto appear to be speculation, financial crime and money laundering.

Stem Cell Therapy is going on 24 years now (1998). This argument is flawed too.

Thats a good point. Let me fix my claim: If a financial product needs "legal flexibility", it's most likely a scam.

The conclusion I draw is that scams form around unregulated industries.

Here in mu country there are A LOT of stem cell related scams. But that doesn't mean there's not some real R&D going on .

Well, so stem cell research is avoiding US laws because of Puritanism.

Why is crypto avoiding US laws?

Edit: Also, a quick Google of top stem cell research companies show that they are based in the U.S. or Europe, so I’m not sure how correct the claim of US avoidance is. But even if they are avoiding the U.S., they are choosing Europe instead, where “legal flexibility” is still not a thing.

The US doesn’t have crypto legislation AFAIK. Just a hodgepodge of rules from various power brokers. Other jurisdictions do a better job. IANAL, so take with grain of salt.

Or in other words "wait, they actually incorporated in the US and not on the Cayman Islands or in Hong Kong or in $Obscure South Pacific Country You Never Heard Of? Amateurs!"

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