I finally can put headphones on and watch the video:

"The merchant can offer [George] the option of paying in several currencies, before George hands over his credit card."

One includes the original currency (Yen). If Valoot always ensures this it has a better chance of being considered compliant. But who's enforcing?

Several currencies - there appears to be the opportunity to arbitrage. But in a point of sales situation I'll just assume the local currency is the best option.