Take a look at Sologenic. Sologenic is a fronted for the DEX. AFAIK they have no legal obligation to limit who is using it at all. The DEX as as its name says is decentral, they can not control it. They just make software that lets users use it. They can also not directly take fees because the DEX does not have fees (you make things decentral to remove the lurking middlemen who takes the fee)
IDK how Sologenics business model looks like (they are pretty new) but I assume they will make certain features in their apps cost something. Possibly can be payed directly with crypto.
KYC rules usually dont apply for such stuff. Fiat on-ramps have to deal with that. Hence using an existing system that already has the infrastructure is preferable.
I'm not necessarily sold on the idea of making products without business models. My lawyers so far have told me somewhat different things from "if it's all crypto then you have no KYC obligations"
I'm sure they have one but these days you offer something for free first to gain users and make you product as premium as possible so you can actually expect someone to pay for it.
>"if it's all crypto then you have no KYC obligations"
Yes, its not that simple but this thread is not legal advice anyway
> KYC rules usually dont apply for such stuff. Fiat on-ramps have to deal with that.
I think it would be a very risky bet to assume this will remain the state long term. It's not even the state now, overall.
Similarly:
> The DEX as as its name says is decentral, they can not control it.
It is possible to construct situations where a business is not technically capable of meeting its legal obligations. The usual solution to this is that the business changes, not the obligation.
