Quote from: monsterer on May 06, 2015, 08:43:52 am

Quote from: cube on May 06, 2015, 08:23:53 am

This means virtual currency exchanges need to have AML.  I am not sure how this is going to impact bitshares's internal 'exchange'.  Perhaps bitshares needs to move away from the word 'exchange' to stay clear from legal troubles.

Well, technically there is no 'exchange' going on, since all the assets are on the same chain...

edit: depends on what their definition of virtual currency is

Fantastic idea:

1000 BTS bounty paid to the first person to get the BitShares community to adopt a new term to substitute for the word "exchange," because since there is actually no real "exchange" occurring.

The AML issue that we have is this:  If you register your real identity on the BitShares blockchain (like Facebook), then you get $5 BitUSD (you will get uninterested leeches registering their whole families and dead people too so $10 is probably too much).

BitShares - we're not a decentralized exchange, but a ___(1000BTS bounty)_________

Changing your name is all the rage lately, look at what it did for DASH!

BitShares - we're not a decentralized exchange, but a Decentralized Market Maker