I actually thought one of the main points about the cash final nature of Bitcoin or any crypto was that you didn't need KYC because the message was the payment, not a promise to pay later. It seems that if this point is so often repeated as an advantage of ccrypto over the tradfi system then not storing your customers info would be the way to go. But perhaps as a licensed money transfer company they have no choice...
Oh so recent change?
I thought something like that would require clarification of Bitcoin as a currency, commodity or security? Does Dash have regulatory clarity as to whether it is a currency, commodity or security?
Interesting, I thought to require such a license Bitcoin would have clarification of it's status as currency, commodity or security?
Does Dash have such regulatory clarity in the US or abroad?
I actually thought one of the main points about the cash final nature of Bitcoin or any crypto was that you didn't need KYC because the message was the payment, not a promise to pay later. It seems that if this point is so often repeated as an advantage of ccrypto over the tradfi system then not storing your customers info would be the way to go. But perhaps as a licensed money transfer company they have no choice...
Yes that's right, they don't. The problem is, recently, you need to be a licensed money transfer business to facilitate Bitcoin.
Oh so recent change?
I thought something like that would require clarification of Bitcoin as a currency, commodity or security? Does Dash have regulatory clarity as to whether it is a currency, commodity or security?
It's been a gradual chance since 2015 or so. It's a practical limitation, not a legal one: very few people can actually transact on the base layer.
This is not an issue that affects other cryptos, really. Except maybe Ethereum.
Interesting, I thought to require such a license Bitcoin would have clarification of it's status as currency, commodity or security?
Does Dash have such regulatory clarity in the US or abroad?