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 "text": "AML obligations for LER should be right-sized: zero-knowledge proofs or anonymized attestations should minimize identity collection for non-transferable rewards, with VASP-grade measures applied only where transferability exists.",
 "author": {
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  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
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 "citation": "Wulf A. Kaal, Liquid Equity Rewards (2025). SSRN: https://ssrn.com/abstract=5454054",
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