What controls? I see some empty reassurances, but nobody that I see is proposing controls. I doubt controls for existing monetary systems would work for bitcoins anyway as it requires a central organization that has power, like printing money, and enough vested interest to through good money after bad money to save the currency. Bitcoins have neither of these.
>Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading.
I believe that anywhichway hasn’t found the names of the “independent[…] audit[ors]” in that document. He’s being harsh, but his point is technically true: the text reads ‘should’ first. Hopefully, a matter of days.
