21–30 of 78 posts
Seems unlikely that they are actually going to be able to get around KYC.
Why would they need KYC if they don't handle any money?
Earlier quoted context omitted.
Yeah, this is an astute observation. If they're taking a cut of the transaction, I suspect they'll still fall under KYC (either because the legislation today is sufficient or because it'll be changed as soon as they become a threat).
they will release their own governance token through an airdrop. It's the new way to fund decentralised startups - no need for VC. Essentially it's the equivalent of an IPO on day 1.
Earlier quoted context omitted.
they will release their own governance token through an airdrop. It's the new way to fund decentralised startups - no need for VC. Essentially it's the equivalent of an IPO on day 1.
IPOs raise money in exchange for equity, they don't create any profits.
Regulations have a way of evolving to meet people's attempts to evade them. Whatever ShapeShift is doing might work for a while, but in the long run it looks like a cat-and-mouse game.
If our values speak to you, and you're a security researcher - WE ARE HIRING
https://shapeshift.com/careers
In liberty,
--Michael
Earlier quoted context omitted.
No, we're simply integrating with DEX's on the platform. ShapeShift is moving away from handling the exchange and turning that functionality over to outside providers.
But then why not use the DEXes directy?
CISO of ShapeShift here. If our values speak to you, and you're a security researcher - WE ARE HIRING https://shapeshift.com/careers In liberty, --Michael
Did this get checked by a lawyer before posting? Reading this, I get the hacker vibe: "The law says this, but I came up with this clever hack so it does not apply to me." Unfortunately for this view, the law and judges who apply the law care a lot about intent, and are not very impressed by "hacks" of the law. Advertising that you are doing an end-around KYC, is something that a judge will find very interesting if th…
"Against evil"...now where have I heard that before...
Translation: "We, a private corporation, get to determine what good and evil is. YMMV how/why you qualify for either or."