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Signal adds a payments feature with a privacy-focused cryptocurrency

(www.wired.com)
544 points josh2600 | 3 comments | 06 Apr 21 16:23 UTC | HN request time: 0s | source
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airza ◴[06 Apr 21 17:16 UTC] No.26714603[source]▶
The technology is cool, but I don't really know if I want KYC regulatory risk in my encrypted messaging client. I just want italics.
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josh2600 ◴[06 Apr 21 17:18 UTC] No.26714642[source]▶
I don't think Signal has any plans to scan your driver's license. What they've built is a non-custodial wallet (IE, they can't help you if you lose your keys, and they have no ability to authorize or deny a payment on your behalf).
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1. airza ◴[06 Apr 21 17:23 UTC] No.26714702[source]▶
In my opinion a lot of the spicy regulatory issues around coins with private transactions are still not fully realized because none of them have mainstream adoption. The problem here is that Signal's goal to succeed as a mainstream encrypted messaging client could have the unpleasant side effect of bringing this technology under regulatory scrutiny. Hopefully things won't come to that, of course...
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2. senectus1 ◴[07 Apr 21 01:18 UTC] No.26719456[source]▶
This is probably why they done sell (MobileCoin) to anyone in or from the US...
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3. AJ007 ◴[07 Apr 21 18:50 UTC] No.26729250[source]▶
And they need to exhaustively verify who is really buying these to be sure they really aren’t in the US so they don’t end up in a Bitmex style situation.

The larger problem here for Signal is US legal claims could nuke it off the (very) centralized Apple App Stores and Google Play Store. Then what?