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About the Episode
"What that means is it's a grey area.... We wanted to be patient and see the token models that worked, the token models that did not, and the things that we should stay away from as a business."
If you are going to start a business in cryptocurrency, you must deal with a high level of regulatory and legal uncertainty.
Navigating the world of KYC, lawyer fees, and vague directives from government agencies, ShapeShift has evolved over the last 5 years.
The uncertainty has caused Erik to make some very tough decisions in order to stay relevant as a cryptocurrency company.
Recently, they launched commission-free trading with the FOX token.
Erik walks through this decision, critique of their move to implement KYC/AML, and views on money and state.
After all, you don't have to go through KYC when you go out to eat at a restaurant!
Erik is a crypto legend as well as a "Libertarian's libertarian". Listen and learn.
About the Host
Matt Aaron has been podcasting since 2013, when he launched the Food Startups Podcast.
He recently found a second love in cryptocurrency and blockchain and hasn't looked back.
His first major investment into cryptocurrency was the money he made betting on (but not voting for) that Donald Trump would win the 2016 election.
Matt believes that public blockchains and cryptocurrencies are the solution to the many problems exposed of the current banking system in the 2008 financial crisis.