Row 88089

Row ID: 88089 | Dataset Entry | Axioma AXP Content Repository

Content Data

This page contains data entry 88089 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

No?

If a US citizen moves to some third country, creates a financial application that serves customers in that country, and follows all laws of that countey, but violates US law, then as long as that application does not serve US customers then that person has not broken US law.

There are actually very few US laws that govern the behavior of US citizens abroad if they don't engage in activities involving persons or other entities in the US, and obey all laws of whatever third country they are in.

Most laws that do apply either deal with traveling to break the law in some other country, aiding people who break some other US law, or a few particularly heinous crimes like murder or human trafficing.

Enabling non US citizens to do something outside the US that has no negative impact on the US government, economy, or citizenry doesn't cause any harm the US government could use to claim standing or jurisdiction.

As to not having control over where your users are from, the general standard is that a site or service needs to make a 'good faith effort' to prevent US users from using the service. Binance was doing the *exact opposite of that* by having their support actively tell US customers how to sign up for the international site. In general this means that a site needs to make at least cursory checks of a user's location, and if they suspect a user is in the US then they need to verify they aren't or remove them from the platform.

This is very much one of those things where 'sorry, small team, can't do it!' doesn't fly with regulators.

If everything about the app except the users is outside the US then there's a limit to what the US government can do, but they can ban the creator(s) and site from using US based companies or accessing the US financial system, and anyone in the US using the site would be breaking the law.

FieldValue
text No? If a US citizen moves to some third country, creates a financial application that serves customers in that country, and follows all laws of that countey, but violates US law, then as long as that application does not serve US customers then that person has not broken US law. There are actually very few US laws that govern the behavior of US citizens abroad if they don't engage in activities involving persons or other entities in the US, and obey all laws of whatever third country they are …
label r/cryptocurrency
dataType comment
communityName r/CryptoCurrency
datetime 2024-05-24
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url_encoded Z0FBQUFBQm5Lak83OW1sRjItbW0xMnpscm9vdVJ2MTg1R1Z0M1l5NldGQW1hNVNZd1RYdmFFWkhXUGlSb1kwVnFEeDU2cnhJNS1DbU9NZzVMY3B4MDEyUWtTcTRGVENDSm5vaWZYbWtTVDdQZXRsTXJkNTRlZnpOS2xrTEEyaEFfYzVERVJoUUxrV0VtbnZ6Q2o0NW1yVTlMcDZaeFhPalJYdTRMWWphbl90a2JPdTluVWRJYjZaN2tETkdmRDhOOFZqTEdoeUE0eXo2VEJPREJYZzczd0JsdDZlQzFicXdrWGwzSllxOGtTbS1qS3FmSzh3cmFjVT0=

Raw Record

{
  "text": "No?\n\nIf a US citizen moves to some third country, creates a financial application that serves customers in that country, and follows all laws of that countey, but violates US law, then as long as that application does not serve US customers then that person has not broken US law.\n\nThere are actually very few US laws that govern the behavior of US citizens abroad if they don't engage in activities involving persons or other entities in the US, and obey all laws of whatever third country they are in.\n\nMost laws that do apply either deal with traveling to break the law in some other country, aiding people who break some other US law, or a few particularly heinous crimes like murder or human trafficing.\n\nEnabling non US citizens to do something outside the US that has no negative impact on the US government, economy, or citizenry doesn't cause any harm the US government could use to claim standing or jurisdiction.\n\nAs to not having control over where your users are from, the general standard is that a site or service needs to make a 'good faith effort' to prevent US users from using the service. Binance was doing the *exact opposite of that* by having their support actively tell US customers how to sign up for the international site. In general this means that a site needs to make at least cursory checks of a user's location, and if they suspect a user is in the US then they need to verify they aren't or remove them from the platform.\n\nThis is very much one of those things where 'sorry, small team, can't do it!' doesn't fly with regulators.\n\nIf everything about the app except the users is outside the US then there's a limit to what the US government can do, but they can ban the creator(s) and site from using US based companies or accessing the US financial system, and anyone in the US using the site would be breaking the law.",
  "label": "r/cryptocurrency",
  "dataType": "comment",
  "communityName": "r/CryptoCurrency",
  "datetime": "2024-05-24",
  "username_encoded": "Z0FBQUFBQm5Lak1xYmxOSFBwTUNITk5QQk9fdXFpaVB0eUNMSlI0eWN0cE9mQmdENndlY0liZ25KUkx4TEhjVndnM09tQmxrUDZPZDR6RFVSZXFGUEVtNERXMWl6OHV1RWc9PQ==",
  "url_encoded": "Z0FBQUFBQm5Lak83OW1sRjItbW0xMnpscm9vdVJ2MTg1R1Z0M1l5NldGQW1hNVNZd1RYdmFFWkhXUGlSb1kwVnFEeDU2cnhJNS1DbU9NZzVMY3B4MDEyUWtTcTRGVENDSm5vaWZYbWtTVDdQZXRsTXJkNTRlZnpOS2xrTEEyaEFfYzVERVJoUUxrV0VtbnZ6Q2o0NW1yVTlMcDZaeFhPalJYdTRMWWphbl90a2JPdTluVWRJYjZaN2tETkdmRDhOOFZqTEdoeUE0eXo2VEJPREJYZzczd0JsdDZlQzFicXdrWGwzSllxOGtTbS1qS3FmSzh3cmFjVT0="
}
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