Were you born that stupid or do you have to work at it?[/color] 
https://coinidol.com/bitcoin-exchanges-must-comply-with-us-laws/
https://kyc360.com/article/compliance-kyc-link-exchanges-banks-mass-adoption-bitcoin/
https://coinidol.com/bitcoin-exchanges-must-comply-with-us-laws/
https://kyc360.com/article/compliance-kyc-link-exchanges-banks-mass-adoption-bitcoin/
Quote
Bitcoin exchanges, miners, and cryptocurrency-
payment processors, operating in the United States are required to comply with federal Anti-Money Laundering (AML) laws.
That means a cryptocurrency user can be prosecuted for violating a number of federal laws.
Anybody who converts BTC to USD and sends the money to or from the United States must comply with all AML laws and regulations.
Such laws and regulations are imposed by the U.S. Treasury Department affiliate, FinCEN.
The Financial Crimes Enforcement Network is in charge of enforcing the policies and regulations, which serve as a security measure for conducting any financial activity within the U.S. borders.
All money service businesses, including Bitcoin exchanges, come within the provisions of these laws and guarantee a strong bank secrecy, as well as money laundering control.
In the case a financial organization fails to abide by the policy, FinCEN is entitled to recourse through competent legal authorities like the FBI or the U.S. Secret Service.
payment processors, operating in the United States are required to comply with federal Anti-Money Laundering (AML) laws.
That means a cryptocurrency user can be prosecuted for violating a number of federal laws.
Anybody who converts BTC to USD and sends the money to or from the United States must comply with all AML laws and regulations.
Such laws and regulations are imposed by the U.S. Treasury Department affiliate, FinCEN.
The Financial Crimes Enforcement Network is in charge of enforcing the policies and regulations, which serve as a security measure for conducting any financial activity within the U.S. borders.
All money service businesses, including Bitcoin exchanges, come within the provisions of these laws and guarantee a strong bank secrecy, as well as money laundering control.
In the case a financial organization fails to abide by the policy, FinCEN is entitled to recourse through competent legal authorities like the FBI or the U.S. Secret Service.
Quote
According to the U.S. Government,
digital currency trading is regarded as electronic money transfer, and thus cryptocurrency exchanges need to follow Anti-Money Laundering laws.
That means any business that engages in bitcoin or ethereum mining, money transfers, trading or currency exchanges will need to file the appropriate paperwork via BSA E-Filing
digital currency trading is regarded as electronic money transfer, and thus cryptocurrency exchanges need to follow Anti-Money Laundering laws.
That means any business that engages in bitcoin or ethereum mining, money transfers, trading or currency exchanges will need to file the appropriate paperwork via BSA E-Filing
Yes, you cretin, that much is obvious. No one is unclear on that. Now let it sink in to your empty head that wording applies to ALL cryptocurrency transactions. Not just Lightning ones. Thank you for yet again completely failing to make a relevant point. If regulators had their way, every on-chain transaction would be subject to KYC/AML. But they can't practically enforce it. So it's not an issue. Same with Lightning. Same applies to large, physical cash transactions out there in the real world. You can't realistically monitor them all.
Learn to brain plz.
People running full nodes have nothing to worry about as they are only keeping a ledger of public information.
They are not sending any funds. AML/KYC laws can not touch them.
LN Hubs on the other hand will facilitate fund transfers using their own note system like a bank allowing redemption in bitcoin
or as Franky1 said another crypto or eventually even fiat.
Two completely different things.
They are not sending any funds. AML/KYC laws can not touch them.
LN Hubs on the other hand will facilitate fund transfers using their own note system like a bank allowing redemption in bitcoin
or as Franky1 said another crypto or eventually even fiat.
Two completely different things.
But as soon as you send a transaction for a substantial sum, even on chain, that should bring the regulators sniffing. Don't try to crawl out of the corner you've painted yourself into, you'll only look like more of a fool than you already do.
If you're using Lightning to send millions of dollars, or whatever, then sure, you might conceivably have the tiniest hint of a point. Watch your back, they're probably coming for you.
Doing your weekly grocery shopping with Lightning once that level of adoption is commonplace? No issues whatsoever. Now stop talking crap.