Damus
Aaron van Wirdum profile picture
Aaron van Wirdum
@Aaron van Wirdum
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?
3310❤️18🤙3:amy:1❤️1🌡️1👀1
jb55 · 61w
sounds about right
Bitcoin Observer · 61w
Roman will appeal the judgement. I’m glad he’s fighting it so vehemently. Not sure how much hope there actually is but he’s risking even more of his freedom by not taking a deal and fighting.
Currency of Distrust · 61w
I think I read somewhere that if the guilty plea is part of a deal, it doesn’t set precedent. Not 100% on that, though
Neigsendoig Cocules · 61w
It's a plea deal that the Samourai devs took, and that doesn't set a precedent. What it does, however, is empower the DOJ to really make an example out of them, because the Samourai devs are going through a humiliation ritual.
Mrbbloom · 61w
They are pressing xD .... better explained impossible
hasky · 61w
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 .
Johnathan Corgan · 61w
And the wheel goes round and round, same as it ever was.
Jeroen Ubbink · 61w
We should be more like Satoshi from now on.
Dr. Hax · 61w
Not exactly. They said "they came to know that some of the bitcoin moving through the service was derived from criminal activity, and they kept marketing and operating the service anyway." [1] The core issue of the case is that they were helping criminals commit crimes. If they just made a wallet ...
nostrich · 61w
Is this the same racket they pulled on the e-gold business mentioned in The Genesis Book?
Benking · 61w
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 th...
crany 👽🧡🗿 · 61w
developing software vs. running software as a service
siggy47 · 61w
Legislation is pending that, if passed, will end the threat: https://bitcoinmagazine.com/news/the-clarity-act-heads-to-house-floor-for-vote-with-protection-for-noncustodial-tools-intact
Ľḭṿḙśƫṟãɖãṁṹṧ💫#BitcoinCore · 61w
They want all of us to route all bitcoin transactions through intermediaries aka banks
Furious Honey Badger ⚡️ · 61w
FUCK KYC