From b2a768758121be6401fd1635ff5030af67cda2e9 Mon Sep 17 00:00:00 2001 From: Ben Stull Date: Mon, 1 Jun 2026 18:51:18 +0000 Subject: [PATCH] Propose: Closed- vs Open-Loop Classification On-behalf-of: Ben Stull --- rfcs/loop-classification.md | 19 +++++++++++++++++++ 1 file changed, 19 insertions(+) create mode 100644 rfcs/loop-classification.md diff --git a/rfcs/loop-classification.md b/rfcs/loop-classification.md new file mode 100644 index 0000000..805d245 --- /dev/null +++ b/rfcs/loop-classification.md @@ -0,0 +1,19 @@ +--- +slug: loop-classification +title: Closed- vs Open-Loop Classification +state: super-draft +id: null +repo: null +proposed_by: ben.stull@wiggleverse.org +proposed_at: '2026-06-01' +graduated_at: null +graduated_by: null +owners: +- ben.stull +arbiters: [] +tags: +- payments +--- + +Whether stored value is clean store credit or a regulated money-transmission instrument turns on a single line: does value move only among commonly-owned storefronts, or between unaffiliated owners? This RFC defines that closed- versus open-loop classification, keyed to common ownership rather than storefront count. It documents the regulatory line the two-tier model rests on — it does not clear it, which remains a legal matter for counsel. +