Founders

Feels like a lot of startups are being built on AA and MPC tech assuming that they will be treated as Non-Custodial wallets just like mnemonic wallets


Are their any no action letters or guidance that says this is true? 

If so, awesome

If not, lots of companies are squarely in the flow of funds

As long as the customer controls the keys and their recovery then they’re self custody/non custodial 

Are you asking if there’s any legal precedence formalizing that?

Catch me on X, notifications are off here 
@devinjelliot

I think that’s a fair concern. We have a legal opinion from Fenwick and West that our designs are in compliance with regulations for money transmission which is dependent upon custody, or lack there of. 

The tech enables the option but the implementation has to be designed to follow patterns of key management

Right, you’re saying that but there is t any legal clarity when it comes to MPC signers 

Im curious how so many are going all in on something that IMHO is dicey from a legal perspective