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I guess I can sort of see it for a cryptocurrency that exists solely to send tokens back and forth, but what about Ethereum where the miners are running some gl
by losvedir 5y ago
I guess I can sort of see it for a cryptocurrency that exists solely to send tokens back and forth, but what about Ethereum where the miners are running some global VM, one function of which is to send tokens back and forth? There you're not paying a fee necessarily to the miner to transfer money for you, but to execute some opcodes and update the global ethereum state. Maybe you're registering a new domain in their DNS equivalent.
He mentions Ethereum offhand in the post, but I feel like that's a legally harder case to prove. Do the servers that transmit, say, wire transfer packets have to worry about KYC?