3 ms·
Current guidance is that non custodial protocols are not classified as money transmitters and so are exempt from KYC/AML regulations: https://www.coincenter.org
by xwvvvvwx 6y ago
Current guidance is that non custodial protocols are not classified as money transmitters and so are exempt from KYC/AML regulations: https://www.coincenter.org/fincens-new-cryptocurrency-guidance-matches-coin-center-recommendations/ https://www.coincenter.org/fincens-new-cryptocurrency-guidan...
- 3np 6y agoI wonder if the interpretation could change for classifying it as a money transmitter if there is an identifiable "owner" or "administrator", e.g. an account that has power to stop/upgrade the contract, or extract fee revenue in a way unprivileged accounts can not. Looking at how ICOs were treated, I don't find it that far-fetched. This could also be relevant to decentralized exchanges like Uniswap.