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just wondering if anyone here knows if it is possible to create a token contract where by the token transfers have to be approved by a third party.

Thanks!

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Your token can do anything you code it to do, so you could make a token whose transfers require approval. Some contracts have implemented "KYC" restrictions where they whitelist addresses that are allowed to receive tokens.

However, to make enforcement work reliably you would also need to block sending tokens to contracts, unless your third party had checked and approved them; Otherwise people could work around your restrictions by transferring the money to a proxy contract, then having that contract manage transfers; As far as your token contract was aware, the tokens would be owned by the proxy contract, and only transferred with its approval, but in practice the proxy contract could allow transfers without its approval.

  • Thanks for your detailed response! Would it be possible to have it where: 1) the user first raises a transfer request and then the approver receives it and can approve /decline or does it have to be such that 2) the user transfer as per normal BUT the transfer is only executed IF the approver has added this transfer ( probably with requester address, send to address & amount ) to a list of approved transfers – xAffinity Feb 28 '18 at 9:27
  • Sure, you could require prior approval either per receiver account or per transfer. – Edmund Edgar Feb 28 '18 at 10:09

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