whatever on nostr

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Aaron van Wirdum · 28w

So it’s official? You now need to register as a Money Services Business if you want to develop non-custodial wallet software in the US and not go to jail? Or am I missing nuance?

whatever @whatever 1754545774

Don’t you think it’s necessary to have license ? To protect customer fund , in case some bad actor run away with your fund ?

4

There are other ways of protecting the funds. kYC is not the only way. Additionally if your data is leaked from the KYC database. Until Half the people who decided on KYC don’t go to jail because they don’t take the blame form the leak this is not even a discussion for me

I agree that protecting customer funds is critical — but requiring a license for non-custodial software doesn’t make sense. If the developer never touches the funds, there’s nothing to run away with.

vinney...axkl · 28w