This past Valentines day, Daphna Waxman, an attorney representing the SEC sent a series of emails to Mircea Popescu, the CEO of popular bitcoin securities exchange, MPEx, basically asking for him to “voluntarily” hand over sensitive data of his business associates and company to the SEC in order to help them investigate the SatoshiDice sale by Erik Voorhees.
I am not going to begin speculating about the laws or jurisdiction that are involved in a request like this. I will leave it to the relevant authorities (whomever they may be, if any) to figure this one out.
I do understand that in todays internet driven world, we will have more clashes like this between institutions and regulations that were built and written well before the advent of email, Skype and outsourcing.
I find it difficult to relate to rules that protect citizens of certain countries at the expense of others. I am just saying, why is it ok that the American government regulates how many breaks a Wal Mart worker can take during his 8 hour shift, but does not protect the millions of Chinese slaves who are supplying Americans with their desires (ie: iPhones & Nikes).
As the world continues to flatten, we as humans will need to regulate ourselves. Bitcoin and the protocol are the first step in getting us to this Utopia.
I almost forgot, here are some of our favorite takeaways from the email exchange. And yes, that really is the CEO in the picture.