HyperSpace comes clean-ish about No Wallet

Source Article:
https://hyperspace.app/post/5cefde8dfd58db00061c90be?asset=fcOcJJN0p

During these 45 days, to our great dismay, we discovered a newly-minted regulation in Israel - where we legally operate from - preventing services not-too-similar to ours from dealing with currency without jumping through a few regulatory hoops and integrating several KYC/AML measures. Halting our wallet integration plans, we took to arguing the case for why we don’t fall under the relevant definitions, investigated alternative methods of achieving the same goal, and eventually came to the conclusion that it is unwise to resist this fate; operating outside of the new regulations is a criminal offense, putting the team and the platform at risk.

OMG they made us illegal!

Decentralization would be the answer, would it not? Unfortunately, there’s not yet a solution decentralized enough - such that we could confidently claim the company and team are sufficiently removed from the transaction to be safe from prosecution - that could be integrated, allowing people to interface directly with the HyperSpace system - more parts of which would have to be decentralized as well - from their decentralized client in a robust and scalable way. While this is a natural step for the future of the platform, it is not feasible within a reasonable amount of time and with existing technology.

We thought we'd be magically saved by decentralization, but no...

And so, the only path forward became jumping through the hoops. Many, many hoops; so many, and so tight, that even after all this time attempting to figure out the best way through them, we’re not entirely sure we could do it and meet the required standards.

So, ur fukt - <3

It may be a while before wallets are implemented into HyperSpace