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work on regulator text

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Christian Grothoff 2023-07-02 14:33:59 +02:00
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15
doc/flows/kyc-deposit.tex
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@ -14,8 +14,8 @@
] ]
\node (start) [start] {Start}; \node (start) [start] {Start};
\node (country) [decision,below=of start,text width=2.5cm] {Target account in allowed country?}; \node (country) [decision,below=of start,text width=2.5cm] {Target account in allowed country?};
\node (amount) [decision, below=of country,text width=2.5cm] {Target account received less than KYC threshold?}; \node (amount) [decision, below=of country,text width=2.5cm] {Target account received less than KYB threshold?};
\node (kyc) [process, right=of amount] {KYC process}; \node (kyc) [process, right=of amount] {KYB process};
\node (high) [decision, below=of amount,text width=2.5cm] {Target account received more than its AML threshold?}; \node (high) [decision, below=of amount,text width=2.5cm] {Target account received more than its AML threshold?};
\node (aml) [process, right=of high] {AML process}; \node (aml) [process, right=of high] {AML process};
\node (dummy) [below right=of aml] {}; \node (dummy) [below right=of aml] {};
@ -66,8 +66,15 @@
\begin{tabular}{l|l|r} \begin{tabular}{l|l|r}
{\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
Allowed bank accounts & RFC 8905 RegEx & {\em CH*} \\ \hline Allowed bank accounts & RFC 8905 RegEx & {\em CH*} \\ \hline
KYC deposit threshold & Amount/month & {\em 5000 CHF} \\ KYB deposit threshold & Amount/month & {\em 5000 CHF} \\
KYC deposit threshold & Amount/year & {\em 15000 CHF} \\ KYB deposit threshold & Amount/year & {\em 25000 CHF} \\
Default AML deposit threshold & Amount/month & {\em 2500 CHF} \\ Default AML deposit threshold & Amount/month & {\em 2500 CHF} \\
\end{tabular} \end{tabular}
\end{table} \end{table}
The KYB deposit threshold of 5'000 \CURRENCY{} per month and than 25'000
\CURRENCY{} per year ensure compliance with article 48-1b.
Additionally, our terms of service will prohibit businesses to receive
amounts exceeding 1'000 \CURRENCY{} per transaction (well below the
15'000 \CURRENCY{} threshold defined in article 24-1c).

9
doc/flows/kyc-pull.tex
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@ -73,8 +73,11 @@
\begin{tabular}{l|l|r} \begin{tabular}{l|l|r}
{\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
Permitted phone numbers & Dialing prefix & {\em +41} \\ Permitted phone numbers & Dialing prefix & {\em +41} \\
P2P KYC threshold & Amount/month & {\em 5000 CHF} \\ P2P KYC threshold & Amount/month & {\em 1000 CHF} \\
P2P KYC threshold & Amount/year & {\em 15000 CHF} \\ P2P KYC threshold & Amount/year & {\em 5000 CHF} \\
Default P2P AML threshold & Amount/month & {\em 1000 CHF} \\ Default P2P AML threshold & Amount/month & {\em 2500 CHF} \\
\end{tabular} \end{tabular}
\end{table} \end{table}
The P2P KYC thresholds of 1'000 \CURRENCY{} per month and than 5'000
\CURRENCY{} per year ensure compliance with article 49-2c.

9
doc/flows/kyc-push.tex
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@ -74,8 +74,11 @@
\begin{tabular}{l|l|r} \begin{tabular}{l|l|r}
{\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
Permitted phone numbers & Dialing prefix & {\em +41} \\ Permitted phone numbers & Dialing prefix & {\em +41} \\
P2P KYC threshold & Amount/month & {\em 5000 CHF} \\ P2P KYC threshold & Amount/month & {\em 1000 CHF} \\
P2P KYC threshold & Amount/year & {\em 15000 CHF} \\ P2P KYC threshold & Amount/year & {\em 5000 CHF} \\
Default P2P AML threshold & Amount & {\em 1000 CHF} \\ Default P2P AML threshold & Amount/month & {\em 2500 CHF} \\
\end{tabular} \end{tabular}
\end{table} \end{table}
The P2P KYC thresholds of 1'000 \CURRENCY{} per month and than 5'000
\CURRENCY{} per year ensure compliance with article 49-2c.

9
doc/flows/kyc-withdraw.tex
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@ -43,8 +43,13 @@
\begin{tabular}{l|l|r} \begin{tabular}{l|l|r}
{\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
Allowed bank accounts & RFC 8905 RegEx & {\em CH*} \\ \hline Allowed bank accounts & RFC 8905 RegEx & {\em CH*} \\ \hline
Withdraw maximum & Amount/month & {\em 5000 CHF} \\ SMS-Identification & Amount/month & {\em 200 CHF} \\
Withdraw maximum & Amount/year & {\em 15000 CHF} \\ Withdraw limit & Amount/month & {\em 5000 CHF} \\
Withdraw limit & Amount/year & {\em 25000 CHF} \\
Bounce period & Delay & 1 month \\ Bounce period & Delay & 1 month \\
\end{tabular} \end{tabular}
\end{table} \end{table}
The limit of 200 \CURRENCY{} results from article 48-2. Strictly limiting
withdrawals to less than 5'000 \CURRENCY{} per month and less than 25'000
\CURRENCY{} per year assures compliance with article 48-1c.

53
doc/flows/main.tex
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@ -37,6 +37,15 @@ The main interactions of the system are:
\item[shutdown] the Taler payment system operator informs the customers that the system is being shut down for good \item[shutdown] the Taler payment system operator informs the customers that the system is being shut down for good
\end{description} \end{description}
In the analysis of the legal requirements, it is important to differenciate
between transactions between wallets (customer-to-customer) and transactions
where money flows from a wallet into a bank account (customer-to-merchant) as
these have different limits: When digital coins are deposited at a business in
Taler, the business never actually receives usable digital coins but instead
the amount is always directly credited to their bank account. Depending on
the transacted amounts, the business will nevertheless be subject to KYB
(Section~\ref{sec:proc:kyb}) and AML checks.
{\bf Customers} begin their business relationship with us when they withdraw {\bf Customers} begin their business relationship with us when they withdraw
digital cash. Taler has no accounts (this is digital cash) and thus there is digital cash. Taler has no accounts (this is digital cash) and thus there is
no ``opening'' or ``closing'' of accounts for consumers. Given digital cash, no ``opening'' or ``closing'' of accounts for consumers. Given digital cash,
@ -51,33 +60,33 @@ fees (see Section~\ref{sec:fees:coin}) that apply to prevent the coins from
expiring outright. expiring outright.
For customers, we will categorically limit of digital cash withdrawn per month For customers, we will categorically limit of digital cash withdrawn per month
to less than CHF 5000 per month and less than CHF 15000 per year, thus to less than CHF 5'000 per month and less than CHF 25'000 per year, thus
ensuring that consumers remain below the thresholds where most regulatory ensuring that consumers remain below the thresholds where most regulatory
processes become applicable. We will, however, ensure that customers are Swiss processes become applicable. Payments between users will be limited
to receiving less than CHF 1'000 per month and less than CHF 5'000 per year.
We will ensure that customers are Swiss
(see Section~\ref{sec:proc:domestic}) by requiring them to have a Swiss bank (see Section~\ref{sec:proc:domestic}) by requiring them to have a Swiss bank
account and/or Swiss phone number (+41-prefix). Furthermore, the wallet will account and/or Swiss phone number (+41-prefix).
impose an upper limit of CHF 5000 on its balance at any point in time. %Furthermore, the wallet will
%impose an upper limit of CHF 5000 on its balance at any point in time.
For {\bf merchants}, the Taler equivalent of ``opening'' an account and thus For {\bf merchants}, the Taler equivalent of ``opening'' an account and thus
establishing an ongoing business relationship is for a business to receive establishing an ongoing business relationship is for a business to receive
payments (see Section~\ref{sec:deposit}) exceeding CHF 5000/month or CHF payments (see Section~\ref{sec:deposit}) exceeding CHF 5'000/month or CHF
15000/year. We will consider the account ``open'' (and require up-to-date KYB 25'000/year. We will consider the account ``open'' (and require up-to-date KYB
information and check sanction lists) as long as the business has made any information and check sanction lists) as long as the business has made any
transactions within the last 24 months. transactions within the last 24 months.
In contrast to normal customers, merchants can in principle {\bf receive} As we will only transfer money into the existing bank accounts of the
payments without limit. However, these transactions must go into the bank merchants to compensate them for sales made using the Taler payment system, we
account of the business: when digital coins are deposited at a business in do not need to check the origin of funds for those merchants as they will only
Taler, the business never actually receives usable digital coins but instead receive funds from us.\footnote{Should businesses want to use Taler for
the amount is always directly credited to their bank account. Depending on expenditures, they will need to withdraw digital coins from their bank account
the transacted amounts, the business will be subject to KYB just like customers, and the limits for customers will continue to apply.}
(Section~\ref{sec:proc:kyb}) and AML checks. As we will only transfer money
into the existing bank accounts of the merchants to compensate them for sales For individual {\bf transactions}, we will impose a limit of CHF
made using the Taler payment system, we do not need to check the origin of 1'000/transaction (even though our reading of the regulations would permit
funds for those merchants as they will only receive funds from individual transactions up to CHF 15'000).
us.\footnote{Should businesses want to use Taler for expenditures, they will
need to withdraw digital coins from their bank account just like customers,
and the limits for customers will continue to apply.}
The following sections describe the respective processes for each of these The following sections describe the respective processes for each of these
interactions. interactions.
@ -111,7 +120,7 @@ There are five types if interactions that can trigger regulatory processes:
\item[deposit] a merchant's {\bf bank account} is designated to receive a payment in digital cash \item[deposit] a merchant's {\bf bank account} is designated to receive a payment in digital cash
\item[push] a {\bf wallet} accepts a payment from another wallet \item[push] a {\bf wallet} accepts a payment from another wallet
\item[pull] a {\bf wallet} requests a payment from another wallet \item[pull] a {\bf wallet} requests a payment from another wallet
\item[balance] a withdraw or P2P payment causes the balance of a {\bf wallet} to exceed a given threshold % \item[balance] a withdraw or P2P payment causes the balance of a {\bf wallet} to exceed a given threshold
\end{description} \end{description}
We note in bold the {\bf anchor} for the regulator process. The anchor is used We note in bold the {\bf anchor} for the regulator process. The anchor is used
@ -129,7 +138,7 @@ Chapter~\ref{chap:regproc}.
\include{kyc-deposit} \include{kyc-deposit}
\include{kyc-push} \include{kyc-push}
\include{kyc-pull} \include{kyc-pull}
\include{kyc-balance} %\include{kyc-balance}
\chapter{Regulatory Processes} \label{chap:regproc} \chapter{Regulatory Processes} \label{chap:regproc}
@ -151,7 +160,7 @@ The three main regulatory processes are:
\end{description} \end{description}
\include{proc-domestic} \include{proc-domestic}
%\include{proc-kyc} \include{proc-kyc}
\include{proc-kyb} \include{proc-kyb}
\include{proc-aml} \include{proc-aml}