Chapter 06 of 08
The Offering · Vol. 02 No. 01
The Room · 06
September 2026 · London
KYC, the travel rule, and who is actually your customer · Sanctions
Sanctions and restricted markets are not a footer
If you cannot prevent a take-up, do not invite one.
Restricted jurisdictions, sanctions lists, and blocked persons are operational. They belong in the geography lock, in onboarding if you onboard, and in a decision about whether a public smart contract that takes assets from anyone is compatible with your path. A public payable function is a distribution channel that does not read your T&Cs.
We will not design a geofence as a toy. We will insist the map names out-markets. Counsel and, where relevant, onboarding vendors implement. The campaign does not get to “soft launch globally and tighten.”