Via @[588732176:2048:Christine Peterson]. The infuriating story of the real-money Hollywood futures exchanges, in which the MPAA once again proves itself to be a force for evil in the world.
Fortunately, the rise of anonymous cryptocurrencies like Monero and Zcash and decentralized exchanges mean that trading in these kinds of market can proceed even without regulatory approval.
"Swagger said his company spent $30 million getting authorized as an exchange by the CFTC and defending itself against the MPAA. He said what happened to the exchange was un-American, that America is about following the rules that you are given in order to succeed. But in his case, lobbyists and politicians changed the rules, ensuring that he failed. “The premise of the argument was wrong, but they were playing on the fear of what was going on in the industry at that point in time,” he told me."
https://www.theringer.com/movies/2018/11/15/18091620/box-office-futures-dodd-frank-mpaa-recession
Fortunately, the rise of anonymous cryptocurrencies like Monero and Zcash and decentralized exchanges mean that trading in these kinds of market can proceed even without regulatory approval.
"Swagger said his company spent $30 million getting authorized as an exchange by the CFTC and defending itself against the MPAA. He said what happened to the exchange was un-American, that America is about following the rules that you are given in order to succeed. But in his case, lobbyists and politicians changed the rules, ensuring that he failed. “The premise of the argument was wrong, but they were playing on the fear of what was going on in the industry at that point in time,” he told me."
https://www.theringer.com/movies/2018/11/15/18091620/box-office-futures-dodd-frank-mpaa-recession