Replying to Avatar Shawn

An open call to #Bitcoin-only angels and VCs: help us understand how custodial startups implementing full-frontal KYC/AML readily raise 10s of millions, while those building non-custodial products without KYC (for defensible reasons) struggle to get a meeting.

This isn’t an attack. It’s a deep desire to understand, and because if you don’t back those building more than just fiat systems on Bitcoin rails, who will?
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Shawn 2y ago

To clarify, I understand KYC, AML, OFAC sanctions, the designation of a money services business, acquisition of money transmitter licenses, and the rest.

And how this can lead ultimately lead to a real or perceived “regulatory moat.”

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