2026-06-01 18:51:34 +00:00
1 changed files with 19 additions and 0 deletions
@@ -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.