Title: Crypto Exchanges Barring US Citizens Is Heartbreaking And Frustrating
Headings: Crypto Exchanges Barring US Citizens Is Heartbreaking And Frustrating
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Content: The frustrating part? The very laws meant to protect citizens can make it extremely difficult for them to have trading careers in crypto, even costing them potential profits — at least in my case anyway — as a tax-paying individual trying to abide by the current rules and regulations in an honorable fashion. Some trading styles and strategies may function well under the current U.S. exchange landscape, given trading vastly differs from person to person, but options are drastically more limited as a U.S. citizen. In particular, significant difficulties exist around trading crypto derivatives in the U.S., such as futures, for top crypto assets including bitcoin (BTC) and Ethereum (ETH) with leverage. This article almost entirely refers to derivatives trading with leverage. I do see value in regulation on many fronts. Certain laws, such as anti-money laundering (AML) and Know Your Customer (KYC) regulations can help ensure legal use of money, or in this case, bitcoin (BTC) and other crypto assets. I see the need for national protection and can empathize with the rationale behind regulation in various instances, especially given the amount of scams and nefarious activity within the industry. I also realize many people may be unprepared for trading and lose money by jumping in. There, however, must be a better middle ground than the current regulatory atmosphere in crypto.