As you requested, the research was done beforehand which is why the design is purely a communications tool which does not ever touch the money. A communications tool has no need for regulation because users deal directly with each other. The proposal is more like a dating app which helps users connect with each other and is not responsible for the outcome. While SteemJ will provide much more in the way of feedback about the transactions from users than a dating app, for regulation is needs not be licensed for any transactions because it does not buy, sell, hold, or transmit any of the money itself.
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hmmmm - thought your entry was to create an exchange, now a communications platform which does not touch money - totally different thing then. Your claim "Date your hottest SBD"?
Sure you will get tons of new witness votes with this awesome, brilliant, innovative idea.....
To most people, it would look like an exchange but the functionality and legality would be that of a messaging app. I am grateful for the witness votes that are there today which are enough.
Your idea is a bit too naive. There is a great pain in adoption of exchange because of those KYC/AML policies. The wole cryptospace is already seen as a mean for criminals to launder money.
I join the negative comments to state that the issue is on the legal side, depending on the country. I cannot even start to imagine all the paper work that needs to be done!