&gt; Alternately ... don&#x27;t gamble on Bitcoin!<p>It&#x27;s not gambling if, say, I need to hold Bitcoin in inventory to run my business but I want to short it on Bitfinex to hedge my exposure to currency fluctuations. <i>Not shorting</i> would be the gamble.<p>&gt; Gemini is attempting to be as legit an exchange as is possible.<p>Coinbase Exchange is a perfectly legitimate exchange too (I work for Coinbase). But accepting deposits and lending them out to other users to short and&#x2F;or trade on margin is a whole different regulatory ballgame.<p>&gt; It turns out that crooks and scammers see an unregulated environment as a golden opportunity<p>The regulations here are actively hurting consumers as legitimate providers are afraid to step into the space. It&#x27;s a self-fulfilling prophecy (too many regulations -&gt; only idiots and crooks offer services -&gt; consumers lose money -&gt; more regulation).<p>Edit: opinions are my own, not Coinbase&#x27;s, yada yada