Funny that they go to a dictionary definition - that's because if they read the definition from the same code that defines a money transmitter, their argument falls apart:
"Money Transmitter":
https://www.ecfr.gov/current/title-31/subtitle-B/chapter-X/part-1010/subpart-A/section-1010.100#p-1010.100(ff)(5)
"Transmittal of funds":
https://www.ecfr.gov/current/title-31/part-1010/section-1010.100#p-1010.100(ddd)
"Funds transfer":
https://www.ecfr.gov/current/title-31/part-1010/section-1010.100#p-1010.100(w)
These regulations clearly are about financial institutions accepting orders to pay (negotiable instruments) and paying a third party on someone else's behalf.
G /
npub17s…vnup8
2024-04-28 01:30:29
in reply to nevent1q…eqmu
Author Public Key
npub17s60zkze7guup2xauha6kzspn7ta64q56d7g83rxd3rls85k3qyqlvnup8Published at
2024-04-28 01:30:29Event JSON
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"content": "Funny that they go to a dictionary definition - that's because if they read the definition from the same code that defines a money transmitter, their argument falls apart:\n\"Money Transmitter\":\nhttps://www.ecfr.gov/current/title-31/subtitle-B/chapter-X/part-1010/subpart-A/section-1010.100#p-1010.100(ff)(5)\n\n\"Transmittal of funds\":\nhttps://www.ecfr.gov/current/title-31/part-1010/section-1010.100#p-1010.100(ddd)\n\n\"Funds transfer\":\nhttps://www.ecfr.gov/current/title-31/part-1010/section-1010.100#p-1010.100(w)\n\nThese regulations clearly are about financial institutions accepting orders to pay (negotiable instruments) and paying a third party on someone else's behalf.",
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