Paul Vigna
speaker
1,291 appearances
13 recordings
1 series
first heard Jul 2017
last heard Apr 2022
Paul Vigna’s voice in public audio — every appearance, attributed to the second.
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Appearances
You may be the worst exchange on the planet, but you can do that.
So there are no real standards for even how an exchange should operate.
That's a problem.
And that is what they're trying to set up some kind of this VCA is trying to set up some rules and regulations that would sort of not determine, but would be a guideline for how these exchanges are supposed to operate.
If you want to be a responsible, if you want to be a good financial business, this is what you would need to do is what they're trying to say.
And that goes back to what you were saying about transparency and fraud.
I mean, if you tell people what you're doing, if you tell people what your processes are, if you tell people that, you know, we are going to vet you before we allow you to trade on our exchange, then you will probably have less fraud on that exchange.
Right.
Some exchanges do that.
Some exchanges want to do that.
Some exchanges don't want to do that.
That is going to be a big issue.
And that's a big issue with even, they call them self-regulatory organizations, these SROs, even in the traditional markets, the question of penalties for breaking any of the organization's rules.
I mean, we don't know what the answer is to that question yet, but that's going to be a big part of
whether this organization has any, whether it's effective at all.
I mean, it's got to have some teeth to it.
The problem with these organizations historically has been, it's nice to say that we want to have standards, but are you really going to hold each other's feet to the fire when it comes down to it?
We don't know yet.
I mean, we just don't know yet, but that's going to be an important part of this.
Are there going to be any penalties for breaking whatever rules they set up?
Showing 841–860 of 1,291 · page 43 of 65
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