Bitcoin Forum

http://www.coindesk.com/canada-confused-on-bitcoin-eh/

Do you think US regulations controls the banks of Canada/UK?

and this is where its always best to talk to the regulators EG UK FSA and your bank manager, instead of avoiding them and waiting for the $h!t to hit the fan.

my bank manager has no problems with bitcoin at all, and they like seeing the money rolling through their accounts. as long as you stick to the rules and know the limits.

atleast half of these exchanges have the teenage mentality of "its my life i can do what i like" which leave their parents worrying what they are upto and ending up snooping on them just to figure out and ensure their kids dont get into trouble which would lead to problems for them also, leading to needless arguments and problems.

.. much the same as the bank manager/customer relationship.

so have a conversation, be polite, be open and honest and mature about things and you will realise the headaches and arguments need not happen... as much

Breaking news: US laws are only for US  :o

No way!

Unless they export those laws by assassinations and murders... Truly evil nation does that...

Well good luck doing that with china or russia

Heard about FATCA (https://en.wikipedia.org/wiki/Foreign_Account_Tax_Compliance_Act) already?

Even Switzerland and Lichtenstein have already knelled to the emperor. http://www.bloomberg.com/news/2013-05-02/billionaire-tax-haven-liechtenstein-loses-on-bank-reforms.html

Sounds like bullshit, why would government agencies ever take the time to warn businesses they are Not under their control?

It would be nice if it were so, but the reality is more complicated (post from the Press section):

have you ever heard of the word 'treaty'?

Wrong way round,

UK (square mile of London) owns/runs the Fed and Canada.

Breaking news - your wrong. US AML Laws can be enforced via treaty in other nations, especially if you are holding USD, exchanging USD, or dealing with American in any other currency.

Fortunately not in all countries... Russia is good example.

This guy seems to think laws don't matter as much as pressure does: http://www.forbes.com/sites/timworstall/2013/05/29/bitcoins-in-danger-from-the-bureaucracy (http://www.forbes.com/sites/timworstall/2013/05/29/bitcoins-in-danger-from-the-bureaucracy)

What is the legal stand point on pressure? Laws don't need to be broken for politics to kill something.

The problem is that if any bank wants to do business in the U.S., they have to conform to U.S. regulations, and every bank wants to do business in the U.S.

China has even more restrictive policies than USA. Everyone *wants* to do business with China, but fear the policies. When fear of US banking system > Chinese banking system, then China gets more banking business.

They seem to be doing a much better job of controlling swiss banks then I would have ever guessed they would have.

True, but a treaty means that the other nations too accepted the US laws.

Have you read about FATCA, Gabi? The choice is either disconnect yourself entirely from the banking system, or accept it. And accepting FATCA == throwing away financial privacy.
Even Switzerland and Liechtenstein have bowed. Also countries like The Bahamas - which has no personal taxes of any kind, so it doesn't have any infrastructure in place to monitor people's financial life - are adapting.

So yeah... the topic title isn't very inaccurate. US regulations to rule them all indeed.

I'm more interested about china and russia.

^^ lmao, this is what idiots on the News spamming OMG bitcoin is being attacked!! They shut down liberty reserve. Liberty Reserve was an exchange like MT. Gox is. It's not a fucking currency, Bitcoin is a currency. They did not shut down Liberty Reserve the currency but liberty reserve the exchange. The big problem is yes US laws are only for the US, but if you do business in the US and you break those laws you can be indicted just like they did with Liberty Reserve a company outside of the US.

They can probably indict Mt. Gox for money laundering since they have US customers.

Welcome to the New World Order, join or get crushed.

This explains the whole situation perfectly. http://www.coindesk.com/fincen-boss-lays-out-bitcoin-rules/

They are for the US empire and the way things are going, Obama considers any living person on earth his peon and any square foot on the planet to be part of his empire. Romans 2.0.

And as the original Romans they will fall... Guess why...