lemon
· 12h
nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqy2hwumn8ghj7mn0wd68ytn00p68ytnyv4mz7qpq6g4umvwj2pduqc8kt2rv6heq2vhvtulyrsr2a20d4suldwnkl4hq62etsy
pls verify 🙏
https://blossom.primal.net/7d0bf2b8fe55dfb...
We have no intention of having KYC now or in the future. If we're ever forced down that path by regulators, we will more likely just close shop or pivot to something else.
Full disclosure though:
For all stablecoins and most non-Bitcoin altcoins like ETH, Solana, etc, we use a payment processor called Mixpay. For the first time ever this week, Mixpay shotgun KYC'ed a user who deposited ETH to our platform.
Essentially, the payment processor is holding the user's deposit hostage until they KYC, refusing to simply send the deposit back to where it came from. We were unaware that the payment processor could even do this and we are currently in the process of moving AWAY from this payment processor due to this behavior.
When we complete the migration in the next week or two we will give a more formal post on this and our position.