whatever on nostr

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 1754545993

When all Money service registered then it can made a database of business in which can be tracked in case some fraud , customer losing their fund , or bankruptcy. This is why registration is important . In my point of view .

wolfpy · 28w

Most big banks have lawsuits every year regarding money laundering and fraud and they pay a fee and never go to jail. However if you are a small business you are screwed. In perfect world you could see it that way, but that system doesn’t take into account corruption from inside the system.

Benking · 28w

It’s true that registration can bring transparency, but it shouldn’t become an excuse to suppress open-source and decentralized software.