|
From the feds' POV, the concern does make sense: a biz that does nothing but get deposits and make payments _is_ a money-transmitting business. We here know that the context is different, but should it raise red flags to the watchdogs? Certainly*.
Interesting. I wonder if other non-US programs that have US payout entities have them licensed as money-transmitting businesses?
[*] "Certainly" in that this entity looks like exactly what the feds are looking for, not in the sense that it is "correct" to look for it. No need to spiral into a debate about what role the feds should have in these matters.
|