Quote from: Viper1 on April 29, 2017, 08:25:13 AM

Quote from: kiklo on April 29, 2017, 07:07:30 AM

LN=Banks.

No. Hubs using LN could be "banks" which could use FRB. But LN itself has nothing to do with that.

FYI:

Quote

Quote from: kiklo on April 25, 2017, 10:21:31 PM

Quote from: unamis76 on April 25, 2017, 03:54:27 PM

LN isn't a bank per se, thus won't be eligible for a license... Wouldn't laws regarding banks have to change in order to be able to give licenses to dedicated LN hubs? From the government point of view, a LN hub wouldn't operate with money, so it wouldn't be possible to give a license, or am I wrong?

There will be a clarification of the current Banking laws, that will interpret LN Hubs acting as a Bank and then require by Law they have a Bank License.
The Banks own many State Governments, look at North Carolina, Wells Fargo pretty much controls all of the NC State Government assembly.
They could have them pass a Law confirming LN Hubs are Banks in a few weeks.

LN => Holds access to your Locked BTC funds (BTC Deposits) , Charge Fees, Processes LN Notes payments, & Charges penalties.
Banks=> Hold Deposits, Process their Bank Notes (Checks/ debit),Charge Fees , & Charge penalties

LN=Banks

Thinking a Bank License will not be required , is just setting yourself up for a lot of legal problems , including jail time.

Coinbase gets away with only needing a Money transmitter license, because they actually transmit the actual item onchain.
By LN hubs using a Offchain Representation to transact , they become Banks by processing their own Notes and are not eligible for just a money transmitter license.