6 ms·
Bitcoin core's lightning should be the next on the chopping block of SEC.
by zapdrive 6y ago
Bitcoin core's lightning should be the next on the chopping block of SEC.
- throw1234651234 6y agoWhy? People pay tax on every sale in the US, lightning or not.
- hanniabu 6y agoThe nodes violate money transmittal laws
- lifty 6y agoWhat is the core argument for this position?
- SAI_Peregrinus 6y agoIf I were to guess: The SEC considers Bitcoin to be a currency. Intermediaries handling currency transactions are subject to "Know Your Customer" laws, and need to get various identifying information from the parties whose currency they're transmitting. Lightning network nodes don't collect such information. Therefore, the Lightning network node operators are in violation of US law. I'm no expert though, there may be other SEC rules that are more relevant.
- toomim 6y agoOh wow, I think you're right.
- ric2b 6y agoThe lightning network is a decentralized protocol for transferring BTC, it's not even remotely comparable.
- zapdrive 6y agoYou forgot the /s