ODELL on Nostr: removing the app from US app stores will not satisfy regulators - they will expect ...
removing the app from US app stores will not satisfy regulators - they will expect kyc on all users globally to make sure americans are not using it
yes, that is fucked up but that is how large custodians have been treated in the past
removing the app from US app stores abruptly with delayed comms indicates a level of panic from their team that is a concern - the only responsible path forward requires deliberate action from the wallet of satoshi team to encourage users to withdraw funds ASAP - otherwise the next course of action is likely a panicked shotgun kyc of all users without notice
mostly likely wallet of satoshi spoke to a lawyer that told them they could reduce liability by removing the app from US app stores
if you have significant funds on wallet of satoshi you should transfer them to a self custody wallet
to the gents running wallet of satoshi: please don't shotgun kyc people, try your best to unwind it responsibly
Published at
2023-11-24 15:35:56Event JSON
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"pubkey": "04c915daefee38317fa734444acee390a8269fe5810b2241e5e6dd343dfbecc9",
"created_at": 1700836556,
"kind": 1,
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"content": "removing the app from US app stores will not satisfy regulators - they will expect kyc on all users globally to make sure americans are not using it\n\nyes, that is fucked up but that is how large custodians have been treated in the past\n\nremoving the app from US app stores abruptly with delayed comms indicates a level of panic from their team that is a concern - the only responsible path forward requires deliberate action from the wallet of satoshi team to encourage users to withdraw funds ASAP - otherwise the next course of action is likely a panicked shotgun kyc of all users without notice \n\nnostr:note1sgvwy56j9ys90wxrfyzscfqy6xs7jrlz64czjpgkhwenvwv8qelscccfl5",
"sig": "ac0b38a1433807f8804249fdbed49702e15aa3981f15c21aa348eda619eae0d395b05d2cae221e43f9b1df092d1dbe938412c2ac8aa03f5287e5ceb5aa736257"
}
