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150 sats \ 2 replies \ @k00b 15h \ on: Are Cashu mint operators breaking the law? bitcoin
All this time I thought he knew. He could also be feigning ignorance which is probably the best thing he can do if he's running one of the mints (or wants to encourage others to run mints).
I can't imagine any lawyer telling him that a centralized mint with any bidirectional convertibility (natively or even on a secondary market) between ecash and bitcoin, advertised or not, is not an MSB/money transmitter.
He must think all other custodians that KYC customers are doing it for fun, because they hate privacy, and any service that's noncustodial when they could use ecash is run by idiots.
Surely the people giving him grants know this.
Is not about thinking others are doing it for fun. There's a huge difference on doing things under compliance after registering a pseudo-bitcoin-fiat-backed "startup" business asking permissions to govt do things with vc versus an anonymous mint-runner that just operate in the private, without asking permissions to anyone, because s/he just knows s/he can do it and is not hurting anyone, nor committing any moral crime.
The people giving him grants must know this.
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