Law of Code
@LawofCodeFM
Expert interviews packaged into deep, long-form podcasts on the legal layer of emerging tech. Hosted by @JacobRobinsonJD.
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" Too often when people are concerned about the potential interaction with illicit activity on permissionless networks they are stereotyping what government officials and regulators and law enforcement actually care about."
Interesting point by @malekanoms on the similarity between the trade-offs TradFi already makes and the ones permissionless blockchains require.
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Compliance belongs at the app layer, not the network layer, as @RebeccaRettig1 explains here.
“You can put the compliance where your apps are, which is, PS, where you have almost all your compliance today.”
“This is like, can I use the open internet or do I have to use a closed version of the internet? ... You are putting your compliance tools around your products.”
“If you’re not doing it in a knowing, repeated, intentional way, then you can create systems where your products are on these networks, just like they’re on the open internet, where bad guys may be running around too, possibly.”
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TradFi business teams that want to use blockchains are being stopped by their compliance teams.
@RebeccaRettig1 explains the problem.
The Bank Secrecy Act and Permissionless Blockchains.
Questions compliance teams are asking, how the BSA applies and why the future should be permissionless.
Featuring @RebeccaRettig1, @malekanoms and @m_mosier_.
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