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?
No, it’s not officially the law (yet) that developing non-custodial wallet software requires MSB (Money Services Business) registration.
But regulators — especially the DOJ and FinCEN — are increasingly pushing boundaries, and there is a growing risk of legal interpretation that could go in that direction.
But regulators — especially the DOJ and FinCEN — are increasingly pushing boundaries, and there is a growing risk of legal interpretation that could go in that direction.