20 lines
718 B
Markdown
20 lines
718 B
Markdown
---
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slug: loop-classification
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title: Closed- vs Open-Loop Classification
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state: super-draft
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id: null
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repo: null
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proposed_by: ben.stull@wiggleverse.org
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proposed_at: '2026-06-01'
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graduated_at: null
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graduated_by: null
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owners:
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- ben.stull
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arbiters: []
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tags:
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- payments
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---
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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.
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