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authorJeffrey Burdges <burdges@gnunet.org>2017-05-19 21:50:46 +0200
committerJeffrey Burdges <burdges@gnunet.org>2017-05-19 21:50:46 +0200
commitca2c54e8a68306f5e408161e2478569ed5540865 (patch)
tree1287312d8ff856e6ed33e9f17d8ef054c9765345 /doc/paper
parent2e2dee1b0c0fc970f47bab510a1ecb5088ffa47e (diff)
downloadexchange-ca2c54e8a68306f5e408161e2478569ed5540865.tar.gz
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Comment on Ripple fine in relation to BOLT
Diffstat (limited to 'doc/paper')
-rw-r--r--doc/paper/taler.bib30
-rw-r--r--doc/paper/taler.tex9
2 files changed, 35 insertions, 4 deletions
diff --git a/doc/paper/taler.bib b/doc/paper/taler.bib
index e3dda1b7..1e5b9a78 100644
--- a/doc/paper/taler.bib
+++ b/doc/paper/taler.bib
@@ -68,6 +68,36 @@
}
+@misc{RippleFined-FinCEN,
+ author = {Steve Hudak},
+ title = {FinCEN Fines Ripple Labs Inc. in First Civil Enforcement Action Against a Virtual Currency Exchanger},
+ month = {May},
+ day = {5},
+ year = {2015},
+ note = {\url{https://www.fincen.gov/news/news-releases/fincen-fines-ripple-labs-inc-first-civil-enforcement-action-against-virtual}},
+}
+
+@misc{RippleFined-ArsTechnica,
+ author = {Megan Geuss},
+ title = {Cryptocurrency maker Ripple Labs fined \$700K for flouting financial regs},
+ subtitle = {Virtual currency Wild West is done, registration as a Money Services Business required.},
+ month = {May},
+ day = {5},
+ year = {2015},
+ note = {\url{https://arstechnica.com/tech-policy/2015/05/cryptocurrency-maker-ripple-labs-fined-700k-for-flouting-financial-regs/}},
+ url_coindesk = {http://www.coindesk.com/fincen-fines-ripple-labs-700000-bank-secrecy-act/}
+}
+
+@misc{RippleFined-CoinDesk,
+ author = {Stan Higgins},
+ title = {FinCEN Fines Ripple Labs for Bank Secrecy Act Violations},
+ month = {May},
+ day = {5},
+ year = {2015},
+ note = {\url{http://www.coindesk.com/fincen-fines-ripple-labs-700000-bank-secrecy-act/}},
+}
+
+
@inproceedings{danezis2016rscoin,
author = {George Danezis and
Sarah Meiklejohn},
diff --git a/doc/paper/taler.tex b/doc/paper/taler.tex
index 997e4097..9b6f1ece 100644
--- a/doc/paper/taler.tex
+++ b/doc/paper/taler.tex
@@ -332,10 +332,11 @@ In general, these off-chain payment channels, like BOLT and the
Lightning Network, improve the blockchain based payment schemes by
centralizing payment processing, but they remain orders of magnitude
more costly than Taler with the same degree of centralization.
-In addition, they require that miners act far more like traditional
-payment processors than conventional cryptocurrencies, exposing miners
-to legal risks. Taler is explicitly designed to help a Taler exchange
-navigate these legal risks.
+In addition, they require nodes act far more like payment processors
+than like conventional miners, potentially exposing miners to legal
+risks, not unlike the financial violations for which Ripple was fined
+\cite{RippleFined-ArsTechnica}. Taler is explicitly designed to help
+a Taler exchange navigate these legal risks.
GreenCoinX\footnote{\url{https://www.greencoinx.com/}} is a more
recent AltCoin where the company promises to identify the owner of