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228 sats \ 1 reply \ @billytheked OP 28 Aug \ parent \ on: "Non-custodial" means nothing if it is not used as such bitcoin_beginners
only tradeoffs

Key. Also,

the compliance issue

makes me wonder, how can spark be compliant here? because of the VTXO model?

I haven't seen any kyc required, so they must not be a license money transmitter.

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183 sats \ 0 replies \ @optimism 28 Aug

Because they ride this little hole that is to date mostly unenforced, but every (US) legal counsel has been warning about since 2016: "if you can block a transaction, you're a custodian."

It's the same liability shifting into the void that the AI labs that are taking no responsibility for the actions of their models employ. "It wasn't me, it was the AI" -> "It wasn't me, it was the chain".

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