Roger Ver on Blockchain’s Past, Present and Future
Galt: How does Blockchain plan to work with regulators? Do you feel you have any responsibility for compliance with anti-money laundering and know your customer laws?
Ver: We have a world-class legal team working hard to ensure we don’t fall under any of those regulations. The way our wallet is designed means we never have access to anybody’s bitcoins. We don’t have the ability to freeze accounts or block transactions or control anybody’s bitcoins.
As the law is written currently, that means we are not a money transmitter or a money services business. From that standpoint, we’re probably the best bitcoin business out there because we don’t deal with any regulatory craziness.
