Wasn't that what they were already doing? USD/EUR exchange was always just on their site. Most people didn't even try to get USD out of the site as there are a lot of hoops you have to jump through in order to do it. For instance I used the exchange because of the very cheap USD/BTC exchange rate and go back to BTC > send to Coinbase when I want to make a deposit in my bank account.
As long as exchanges don't offer a USD exchange it really doesn't matter... and as far as that goes BTCe's didn't really get used. It was just a good place to sit in FIAT when BTC is fluctuating a lot.
I used BTC-e for over 4 years without a problem, never move any fiat in or out, too hard and expensive, most of my funds came from mining crypto and trading. I would be surprised if much fiat ever moved in or out the that exchange, I think the media claims are BS, they are probably counting ancient BTC movements and inflating them to today's exchange rates to make sensationalist headlines which sound like $US was moving in and out. The news stories seem to be deliberately trying to interchange BTC and $USD in their claims because the average sheeple wont see the sleight of hand. When Mt. Gox funds went "missing" you can bet some ended up on BTC-e, after all, what other crypto exchanges were there 5 years ago? Find me a bank or exchange that hasn't had illegally obtained funds deposited at some point. Need I mention places which take cash! |
|
|
|
so now the feds has taken the domain.
well then its finally just over and the money is gone.
good bye and happy hunting for a new exchanger.
im out
I am wondering why they didn't do that a few days ago. The US government loves it's god like ability to shutdown domains as if it's some kind of property they own. https://btc-e.nz/ |
|
|
|
Definition of money from dictionary
something generally accepted as a medium of exchange, a measure of value,
They might not have needed the Patriot Act in this case. But they can, and will, when necessary.
We don't care about money as defined in the dictionary, in a legal matter we care about how it's defined by legal rulings. Virtual currency (IRS ruling 2014) – “Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. In some environments, it operates like ‘real’ currency…but [virtual currency] does not have legal tender status in any jurisdiction.” http://www.communitycurrencieslaw.org/legal-definitions/You might want to start with the US constitution which defines money, and who can issue it. |
|
|
|
My funds are also stuck or burned with btc-e .
They said they are maintaining but, now their page shows Error 525, CloudFlare error.
Not sure what's going on.
It just alternates between the messages every now and then when you refresh. Might be doing a round robin between a couple of backend server IPs, only one of which has the message. |
|
|
|
Whats more of a crime is the reach of the US. The Rothchilds are finally kicking into stage 2! BTC wipeout , slow strangulation, makes sense BTC biggest threat they have ever seen. Revolutions in the past kicked off with far less wealth control and imbalance than now. Amazing to see the true power and reach these chosen few have. back to my day job and my debt.
Nah, the Rothchilds would print their own crypto for free and try to make everyone use it, like XRP or some of these ICO tokens. If they didn't want crypto, they would pressure governments to ban it, though, the technique would be to first have a huge media campaign to make it look like only criminals need crypto, mentioning Russian criminals often in the campaign would help a lot. |
|
|
|
BS, the US don't legally classify Bitcoin as money, and that's what matters, unless they go though the motions of doing that first they can only pursue transactions that involve fiat, and other legal tender, under money laundering laws.
From E-Gold case: "However, in its actions from 2006-2008, the U.S. Treasury Department in conjunction with the United States Department of Justice stretched the definition of money transmitter in the USA Patriot Act to include any system that allows transfer of any kind of value from one person to another, not merely national currency or cash." And that was 10 years ago so imagine what they consider under definition of money transmitter today. Maybe even wearing clothes would fall under that stretched definition or money transmitting  The charges are not under the USA Patriot Act, they are under statutes ranging from 1956 to 1960 if you read the U.S. Attorney’s Office press release. There is no mention of charges under the Patriot Act whatsoever. The US government can stretch the definition of whatever they like in their country, and the sheeple will do little. Doesn't mean other countries will abide. |
|
|
|
"We will hold accountable foreign-located money transmitters, including virtual currency exchangers, that do business in the United States when they willfully violate U.S. AML laws."
translation:
No matter where you are, where you're from, what you trade; we are coming for you and you will go to jail.
BS, the US don't legally classify Bitcoin as money, and that's what matters, unless they go though the motions of doing that first they can only pursue transactions that involve fiat, and other legal tender, under money laundering laws. As for "their coming for you" The US are still trying to extradite Kim Dotcom and Jullian Assange. Mt Gox is a case that is going on in Japan where Mt Gox was based, not the US. The whole US vs BTC-e thing is an anti-Russian propaganda move, which has little to do with law enforcement. If the countries where BTC-e are based feel their laws are being broken, they are quite capable of enforcing it themselves. |
|
|
|
Only 5-6 exchangers are licensed. I am wondering why the people are using shit ones like BTC-e. I said for so many times that unlicensed exchangers will be closed. Kraken, Poloniex, Bittrex (based in USA). None of them are MSB. Again, it doesn't matter that they are registered with FINCEN. It means NOTHING.  They must be MSB prior to that. These ones will be closed, funds seized and so on. BTC-e is not in the US, so it doesn't have to be licensed in the US. That's a pretty good reason to use it too. There is no law that requires the licensing of a crypto exchange, the laws are for transferring fiat to another person, not crypto. People seem to be having a hard time with this simple concept in this thread. |
|
|
|
If US prosecutors can prove that Alex got those stolen money directly from that hacker and if Alex used those those coins for BTC-e client withdrawals or to trade them into any exchange, it is then over for him. Any prosecutor will not start operation unless they have strong evidences. Well, Alex is not into chemical weapons business anyway as one another guy was falsely labeled and executed without evidences.
In the US Bitcoin is not money. If they are going to charge with money laundering they have to talk about the flow of fiat currencies specifically $US |
|
|
|
and people must understand that he is NOT suspected for being behind the mtGox hack - he is suspected for laundering money that came from the mtGox wallets. nothing else. analysis shows a moneyflow into btc-e, this is a fact. and this is why he is arrested. not for being behind the mtGox hack.
Laundering money through unlicensed exchange makes him accomplice with that hacker unless he can prove that he was not aware that he was used for that but since WizSec found his name long before then it seems that "WME" was keeping this issue unsolved for long time. Check http://archive.is/6cFcY ( https://archive.is/6cFcY/1d5539131aad6491174158318495560bf91dd784.png check Alexander Vinnik name on that screen capture posted by WME user, posted exactly 5 years and 20 days ago). I read the WizSec summary, it only talked about the flow of Bitcoins not money. So where is the money laundering bit described? |
|
|
|
Equinix data center is in Bulgaria too, what makes you think BTC-e would use a Californian data center an risk FinCen problems? They would have been taken down years ago like Mt Gox was in the US. |
|
|
|
It makes no particular sense
There are quite a few "other exchange sites" out there, and how many of us are using them? On the other hand, if they get off cheap (read the clients' funds are intact), they could just fire up their servers in some really neutral country like Switzerland (or even in Mother Russia herself, which would be the best option if they manage to negotiate favorable terms with the Russian authorities). Btc-e has a name, and if they keep the money of their clients in complete safety, they will get away even stronger, as someones who successfully and rightfully fucked up Uncle Sam himself. I also don't think that this is the end of Btc-e (I don't have a financial stake in the affair but I can certainly feel your pain)
There is also a political angle, what are the first two words of the U.S. Attorney’s Office press release? https://www.justice.gov/usao-ndca/pr/russian-national-and-bitcoin-exchange-charged-21-count-indictment-operating-allegedThey are "Russian National" that's right, they set the prejudicial tone from square one. The indictment is political. |
|
|
|
They seized one admin, now probably the team is playing the waiting game until they see what they are really up against.
My guess? They take all the users funds, buy coins, wait for aug 1 and a few days later, reap $100M+ in profits and pay off the fines. But I'm really not sure how they would start up the site again if it's deemed illegal. Nah, they would dispute the validity of the charges. I still don't understand why the exchange shut down, unless their hosting was cut off as part of the Vinnik arrest, though the servers were not in Greece. |
|
|
|
Wishful thinking. BTC-e are not in the US. I thought the have seized it or have a plans to do so? You can't seize crypto, that's the whole point. The person that has the private keys is the only one with access. They could freeze the fiat bank accounts, but even then, BTC-e was not operating in the US, it's in Bulgaria part of the EU, so how do they make US charges stick? If BTC-e had an office in the US that's would count, but the don't. |
|
|
|
Wishful thinking. BTC-e are not in the US. |
|
|
|
sounds like assets will be siezed, to repay victims of mtgox. I had bitcoins in mtgox during end of 2013, they never said their were issues, when they took my coins, and just ignored my tickets, (just like poloinex is doing now) for mounts until tshtf. I only have relative pennies to lose in poloinex, but i lost a lot of savings in mtgox.. hope they distribute some of those stolen coins to the mtgox clients.
What assets will be seized and what is the logic behind it? |
|
|
|
Why don't the other BTC-e admins keep the popular exchange running?
Has the hardware been seized or something?
They have no control of btc-e wallets.. Are you suggesting that some person other than the remaining admins does each and every wallet transaction? Sounds like BS to me, it would be automated. There may be some cold wallets with reserves out of their control, but it's the hot wallets that matter to run the exchange. |
|
|
|
|
Why don't the other BTC-e admins keep the popular exchange running?
Has the hardware been seized or something?
|
|
|
|
There is a page on btc-e.com that's just come up: Maintenance
Site is under maintenance. We apologize for the inconvenience.
Технические работы
Ведутся технические работы. Приносим извинения за неудобства.
Твиты пользователя @btcecom |
|
|
|
|
Show Posts
