Re:First Bitcoin “mixer” penalized for violating anti-money ...
by xwvvvvwx on Monday October 19, 2020 @02:48PM
(#24829550)
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-guidan...
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Re:First Bitcoin “mixer” penalized for violating anti-money ...
by 3np on Tuesday October 20, 2020 @01:00AM
(#24834070)
I 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.