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Actually, I would like to clarify. It would have been infinitely...

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davec88

898 Posts.

27/01/19

17:07

Post #: 37238337
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Originally posted by davec88: ↑

Impossible to enforce money transmitter laws on Lightning with Bitcoin. With integrated coin join services, onion routing, dandiolion and schnorr, the Government has no method to tell who has even set a lightning channel up. They can create a law stating it's illegal, but it would be similar to when faxing was deemed illegal in the United States in the 1980s. They just can't practically enforce it.

Governments quickly realise this and so give lame excuses as to why they're not acting so as to not fracture their omnipotent social signalling. Due to the ease at which a crypto can be launched, Governments have been reluctant to use Money Transmitter laws at all in the crypto space. David Silver (A US Lawyer) has stated that there have only been 4 cases so far in the 10 years of crpyto existence where FinCEN targeted cryptos on Money Transmitter laws.

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Actually, I would like to clarify. It would have been infinitely easier (But still impossible) for the US Government in the 1980s to enforce the faxing ban US wide than it is to enforce money transmitter laws on Lightning. It's beyond a joke that anyone thinks that this is even possible.
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