bitshares / bitshares/bitshares-ui

[SEC] Regulations may require to create a light-client for US citizens

Open
#2,189 11 comments 0 reactions 0 assignees View on GitHub
[2] Needs Discussion
Dominant language
JavaScript
Stars
520
Forks
575
Avg merge
12h 7m
Merged PRs (30d)
5

Description

**Is your feature request related to a problem? Please describe.**
Given recent public statements of the SEC, the bitshares development community in general as well as the bitshares-ui team in particular should take additional steps to prevent SEC enforcement from going after developers.

**Describe the solution you'd like**
Given that the frontend is independent of the backend (ofc), there is no way we can prevent users to connect any program to a backend and thus have the exchange exposed to U.S. citizens (which is what bothers the SEC).

My first thought would be to release two versions of the software:
* for US-citizens (does not come with the exchange route)
* non-US-citizens (full shebang)

### additional infomation
[SEC public statement](https://www.sec.gov/news/public-statement/digital-asset-securites-issuuance-and-trading)

Contributor guide

Open the contributing guide

Research direction

Start by reviewing how the frontend is separated from the backend and where the exchange route is exposed. Clarify the regulatory requirements and define what the US-citizen version must omit and what the non-US version must retain before implementation.

Written by the indexing model from the issue text.

Assessment

Tech stack
javascript
Domain
frontend, security
Issue type
Feature
Difficulty
5/5
Estimated time
Over a week
Activity status
Stale
Clarity
Needs clarification
Newbie friendliness
20/100

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