Conversation

How FinCEN’s definition of money transmission applies to “peer-to-peer” cryptocurrency exchange (from this report coincenter.org/entry/aml-kyc-)

Jesse Powell

@jespow

Replying to

@NeerajKA

So, to be safe, never “exchange” crypto. Always sell widgets for cash and buy widgets back for crypto; buy widgets for cash and sell for crypto. Never buy/sell crypto/cash for crypto/cash. Problem solved?

6:31 AM · Apr 23, 2019Twitter for iPhone

Replying to

and

I'm launching a widget exchange.

lowstrife

@lowstrife

Apr 23, 2019

You should call it Magic Online Widget Exchange. MOWex. The glove. It fits.

Replying to

and

Thus Ebay gets shut down by FinCEN, thanks to

Replying to

and

What if we prefer foo foos over widgets? Can we buy foo foos for crypto instead, or is that just silly talk?