work on regulator text

5 files changed, 61 insertions, 34 deletions

diff --git a/doc/flows/kyc-deposit.tex b/doc/flows/kyc-deposit.tex
index bac0ead4e..b6345ad79 100644
--- a/doc/flows/kyc-deposit.tex
+++ b/doc/flows/kyc-deposit.tex
@@ -14,8 +14,8 @@
     ]
  \node (start) [start] {Start};
  \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 (kyc) [process, right=of amount] {KYC process};
+ \node (amount) [decision, below=of country,text width=2.5cm] {Target account received less than KYB threshold?};
+ \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 (aml) [process, right=of high] {AML process};
  \node (dummy) [below right=of aml] {};
@@ -66,8 +66,15 @@
   \begin{tabular}{l|l|r}
     {\bf Setting}                 & {\bf Type}         & {\bf Value}    \\ \hline \hline
     Allowed bank accounts         & RFC 8905 RegEx     & {\em CH*}      \\ \hline
-    KYC deposit threshold         & Amount/month       & {\em  5000 CHF} \\
-    KYC deposit threshold         & Amount/year        & {\em 15000 CHF} \\
+    KYB deposit threshold         & Amount/month       & {\em  5000 CHF} \\
+    KYB deposit threshold         & Amount/year        & {\em 25000 CHF} \\
     Default AML deposit threshold & Amount/month       & {\em  2500 CHF} \\
   \end{tabular}
 \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).
diff --git a/doc/flows/kyc-pull.tex b/doc/flows/kyc-pull.tex
index 092892ae5..57fcc3beb 100644
--- a/doc/flows/kyc-pull.tex
+++ b/doc/flows/kyc-pull.tex
@@ -73,8 +73,11 @@
   \begin{tabular}{l|l|r}
     {\bf Setting}             & {\bf Type}      & {\bf Value} \\ \hline \hline
     Permitted phone numbers   & Dialing prefix  & {\em +41} \\
-    P2P KYC threshold         & Amount/month    & {\em  5000 CHF} \\
-    P2P KYC threshold         & Amount/year     & {\em 15000 CHF} \\
-    Default P2P AML threshold & Amount/month    & {\em  1000 CHF} \\
+    P2P KYC threshold         & Amount/month    & {\em  1000 CHF} \\
+    P2P KYC threshold         & Amount/year     & {\em  5000 CHF} \\
+    Default P2P AML threshold & Amount/month    & {\em  2500 CHF} \\
   \end{tabular}
 \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.
diff --git a/doc/flows/kyc-push.tex b/doc/flows/kyc-push.tex
index 458115462..a42318f89 100644
--- a/doc/flows/kyc-push.tex
+++ b/doc/flows/kyc-push.tex
@@ -74,8 +74,11 @@
   \begin{tabular}{l|l|r}
     {\bf Setting}             & {\bf Type}     & {\bf Value} \\ \hline \hline
     Permitted phone numbers   & Dialing prefix & {\em +41} \\
-    P2P KYC threshold         & Amount/month   & {\em  5000 CHF} \\
-    P2P KYC threshold         & Amount/year    & {\em 15000 CHF} \\
-    Default P2P AML threshold & Amount         & {\em  1000 CHF} \\
+    P2P KYC threshold         & Amount/month   & {\em  1000 CHF} \\
+    P2P KYC threshold         & Amount/year    & {\em  5000 CHF} \\
+    Default P2P AML threshold & Amount/month   & {\em  2500 CHF} \\
   \end{tabular}
 \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.
diff --git a/doc/flows/kyc-withdraw.tex b/doc/flows/kyc-withdraw.tex
index 341419095..e1c625e09 100644
--- a/doc/flows/kyc-withdraw.tex
+++ b/doc/flows/kyc-withdraw.tex
@@ -43,8 +43,13 @@
   \begin{tabular}{l|l|r}
     {\bf Setting}            & {\bf Type}         &  {\bf Value} \\ \hline \hline
     Allowed bank accounts    & RFC 8905 RegEx     &  {\em CH*} \\ \hline
-    Withdraw maximum         & Amount/month       &  {\em 5000 CHF} \\
-    Withdraw maximum         & Amount/year        &  {\em 15000 CHF} \\
+    SMS-Identification       & Amount/month       &  {\em 200 CHF} \\
+    Withdraw limit           & Amount/month       &  {\em 5000 CHF} \\
+    Withdraw limit           & Amount/year        &  {\em 25000 CHF} \\
     Bounce period            & Delay              &  1 month \\
   \end{tabular}
 \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.
diff --git a/doc/flows/main.tex b/doc/flows/main.tex
index 2a10578bf..30d5fd3ae 100644
--- a/doc/flows/main.tex
+++ b/doc/flows/main.tex
@@ -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
 \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
 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,
@@ -51,33 +60,33 @@ fees (see Section~\ref{sec:fees:coin}) that apply to prevent the coins from
 expiring outright.
 
 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
-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
-account and/or Swiss phone number (+41-prefix).  Furthermore, the wallet will
-impose an upper limit of CHF 5000 on its balance at any point in time.
+account and/or Swiss phone number (+41-prefix).
+%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
 establishing an ongoing business relationship is for a business to receive
-payments (see Section~\ref{sec:deposit}) exceeding CHF 5000/month or CHF
-15000/year.  We will consider the account ``open'' (and require up-to-date KYB
+payments (see Section~\ref{sec:deposit}) exceeding CHF 5'000/month or CHF
+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
 transactions within the last 24 months.
 
-In contrast to normal customers, merchants can in principle {\bf receive}
-payments without limit. However, these transactions must go into the bank
-account of the business: 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 be subject to KYB
-(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
-made using the Taler payment system, we do not need to check the origin of
-funds for those merchants as they will only receive funds from
-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.}
+As we will only transfer money into the existing bank accounts of the
+merchants to compensate them for sales made using the Taler payment system, we
+do not need to check the origin of funds for those merchants as they will only
+receive funds from 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.}
+
+For individual {\bf transactions}, we will impose a limit of CHF
+1'000/transaction (even though our reading of the regulations would permit
+individual transactions up to CHF 15'000).
 
 The following sections describe the respective processes for each of these
 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[push] a {\bf wallet} accepts 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}
 
 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-push}
 \include{kyc-pull}
-\include{kyc-balance}
+%\include{kyc-balance}
 
 \chapter{Regulatory Processes} \label{chap:regproc}
 
@@ -151,7 +160,7 @@ The three main regulatory processes are:
 \end{description}
 
 \include{proc-domestic}
-%\include{proc-kyc}
+\include{proc-kyc}
 \include{proc-kyb}
 \include{proc-aml}