You are exactly right about the regulations which is why what I have suggested is designed to avoid any regulation at all. This proposal explains that SteemJ would not touch any of the money including no escrow. SteemJ then is only a communications tool that makes peer to peer transactions easier without charging any fees. Users set prices and user deal directly with each other while relying on SteemJ to help design which user to trust. Think of it more like a dating app than an exchange where the entire purpose of the app is to connect one person with another. The dating app is not participating in the relationships or responsible for the results of using it.
If I had explained it as a messaging service helping users exchange the money, I might have communicated the design more clearly because none of us would expect a messaging service to be regulated but when I said "exchange" that triggers the idea of the laws which @blocktrades and you have referenced. Thank you very much for making a reply so quickly here and helping us understand what we need to do to get this live!
If you had done that, nobody would have cared. But you specifically mentioned a STEEM-USD “exchange” where STEEM could be bought and sold with PayPal or credit cards. And you did this while hyping the idea by claiming that you would start hiring developers, by claiming that there would be millions of dollars in volume per day, and then asking for witness votes to fund everything - as if this was going to be some huge community benefit, all organized by you.
Your failure was that you were oblivious to laws/regulations and your claim now that there will be no actual exchange tells me that you’re just bullshitting - as usual - in order to get more witness votes and more post rewards. If your grand idea is to simply create a way for individuals to trade with each other, then there are plenty of options for this already. If you’re encouraging individuals to onboard and off-board crypto buyers and sellers with credit cards and PayPal, then you’re just being downright reckless.
In my opinion, this is just another reason on a very long list of good reasons to not support you as a blogger and a Steem witness. You’re a charlatan and you need to stop with the bullshit. Every time you propose one of these ridiculous ideas and get called out for being ignorant/oblivious, you hem and haw and backpeddle and throw around your phony “thank you” replies.
Why don’t you try educating yourself first, then try to come up with actual useful ideas that haven’t already been proposed or useful services that don’t already exist...or maybe try to figure out if there’s a good reason why they don’t exist, if they do not?
Oh, right. That would actually involve competence and research - two things in which you clearly have no interest.
For users, it would function as an exchange and this is the easiest way to communicate it. For the developers and law, it would only be similar to a messaging service although the UI would look like an exchange.
On Steem we have a unique opportunity with trust signals to empower users to exchange directly with each other which has significant popular support from our community. If those with the ability to fund the developers doing the work to create it are not interested in giving it a chance, that is fine because just talking about this may help someone get motivated to code it themselves and know where to reach out for help.
Finally with thousands of likes coming in every day on the posts and videos I create, I appreciate you helping me maintain humility in seeing that my work is no better or worse than anyone else's. Our contributions here are equally as valuable and it is more fun with each of us having the freedom to share different viewpoints.