411 sats \ 2 replies \ @handsome_latino 10 Oct 2022 \ on: I'm Tom Chojnacki, CEO of Satsback.com. AMA bitcoin
Hey Tom, your servivce sounds great, amazing that you have so many online shops that I frequent.
Have you thought about doing a bit of localization for the Spanish? Latinos love cashback and if this can be a way to help a bit of adoption and save money, I think people would try it. Almost everyone is aware of bitcoin and slowly more and more people through LN-enabled wallets.
If you'd like a bit of insight on Latam, let me know. I'm a developer and founder at a US (non-bitcoin) startup, doing a few Bitcoin projects here and there.
Now for the question:
Do banks or financial entities ever come to and knock your door saying "hey yo you paying people in assets, we want some regulation"? If so what's the best answer to that? Find a capable lawyer or surf around the wave? Have been thinking about making a non-KYC btc to fiat exchange registered in Latin America so that we don't get hit with BS KYC regulation, but a bit paranoid of regulations, etc.
Thanks!
Hey! Thanks a lot!
We have thought about adding multiple language versions of our platform and Spanish would be a great candidate for the first non-english version but we'd like to make sure we have more to offer for the non-Spain, Spanish-speaking markets. Very cool, would love to stay in touch. Could you DM me on twitter? @tomchck
Re; your question, it really depends on the jurisdiction you are in and best to get a legal opinion from lawyers that specialise in these things. For us we were able to avoid KYC rules since we are not really an exchange and we don't accept fiat from our users. We just pay out relatively small amounts of sats and there is virtually no risk of money laundering using our platform.
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Errata:
Localization for the Spanish-speaking market
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