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Re: [Taler] Business model and banking license

From: Changaco
Subject: Re: [Taler] Business model and banking license
Date: Tue, 8 Nov 2016 23:52:55 +0100

> This is classical deposit business (German ‚Einlagegeschäft‘) which requires 
> a full banking license for the operator of a Taler exchange. Right?

A banking license isn't about deposits, it's about credits, i.e. the power to 
create money. As a Taler exchange would simply hold preexisting money, it only 
needs an e-money emitter license (in the EU).

I am more worried about how the exchange is supposed to comply with financial 
regulations on the prevention of money laundering and terrorism financing since 
the system is designed to be anonymous.

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