Digital currencies are digital tokens that maintain their value by virtue of one's possession of it, as opposed to one's identity like as in a bank or credit card or PayPal etc.
So, your digital currency operates similarly to PayPal but without the need for identification, correct? What happens when authorities demand client identification from you? Sooner or later, you may be classified as a money transmitting business.
Haypenny is a digital currency, just like Bitcoin is. You could also say, "Bitcoin operates similarly to PayPal but without the need for identification". I guess that's one way to look at it...
Anyhow, Haypenny is just the transaction mechanism. Like with Bitcoin, the businesses who are compelled to deal KYC and so forth are the ones who take in and send out sovereign currencies e.g. US dollars and so forth. The Haypenny platform itself doesn't do that. We rely on brokers just like blockchain-based digital currencies do.
Of course, authorities can "demand" all they want--the platform simply doesn't have any identity inside of it. The only personal information we collect is an email address, and that's only for those wanted to create their own currency. You can have a client-side wallet with no identity at all if you want.