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RE: My Video Blog- "Fiat To Steem Via Steemit?" Could This Ever Happen?

in #steemit • 7 years ago

Here is the problem:

  • Steemit.com is run by Steemit Inc
  • Steemit Inc is incorporated in the USA.
  • Because of this Steemit.com (and it's users) would need to comply with AML & KYC regulations.

Steemit Inc very early on stated that they did not want to be labeled a money transmitter by the US authorities.

This doable but it has to be done outside of Steemit.com

7 years ago in #steemit by
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     7 years ago  

    I agree. Steemit Inc themselves would not want to directly exchange steem for dollars. But we are completely free to do it among ourselves.

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