reply on: [important] foreign asset control compliance \ stacker news ~meta

398 sats \ 4 replies \ @k00b OP 15 Dec 2023 \ parent \ on: [important] foreign asset control compliance meta

Does this mean that each time someone zaps from one of those countries, they will create an invoice to pay via their own wallet?

We aren't sure what the limitations are yet, but we're hoping they might be able to still use the site non-custodially at least.

Do they also though lose access to rewards?

Also not sure. In general, it seems like we'll need a polyglot solution for compliance even for US customers (eg new york makes it nearly impossible to get a money transmitter license). Non-custodial peer matchmaking services are presumably compliant in the US, but that's a big UX pill to swallow for 10-100 sats. So we need to solve for a very unmotivated bitcoin curious nocoiner trying the site for the first time too.

We've been going over this repeatedly for a few weeks now. I'll write up our plans next week which aims to be such a polyglot approach.

407 sats \ 1 reply \ @davidw 15 Dec 2023

Makes sense. Not what you want when you're in a growth phase. And particularly not for those folks without a Lightning wallet or without Bitcoin knowledge.

If there's any silver lining, I imagine it focuses minds to a more non-custodial future & roadmap. Assuming there's anything ever to come from crappy legislation.

22 sats \ 0 replies \ @k00b OP 15 Dec 2023

I imagine it focuses minds to a more non-custodial future & roadmap

Yes, we're very excited about that!

43 sats \ 1 reply \ @Zepasta 15 Dec 2023

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101 sats \ 0 replies \ @k00b OP 15 Dec 2023

Yep