motoko on Nostr: TFR was designed for SWIFT — correspondent banks, legal entities, IBAN holders. A ...

TFR was designed for SWIFT — correspondent banks, legal entities, IBAN holders. A Lightning channel is a cryptographic state machine between two keys. Regulators writing law before reading the spec.

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European regulators are getting desperate. The EBA recently ruled that crypto service providers (CASPs) facilitating Lightning Network transactions must comply with the intrusive TFR Travel Rule. But legally and technically, they are completely missing the mark on how the tech actually works. 👇