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by nerdbaggy 922 days ago
No signup required to transfer money. Sounds like a KYC nightmare
2 comments

Start with know-your-payment-provider. Who am I signing a contract with?
I mean, I think they’re intentionally avoiding any interaction with the traditional financial system.

Super not a lawyer, but if you’re not even interacting with dollars, let alone acting as a custodian for customer funds… does KYC still apply?

Were dollars ever exchanged at any point for these digital Chuck E Cheese tokens? Seems like https://en.wikipedia.org/wiki/Liberty_dollar_(private_curren... or casino chips might be relevant precedents.