Fincern Liable for Mtgox customer Losses

[Bitcoinpro]

they over stepped their authority in trying to pretend they where something they where and could do things they could not

they should never ever have mentioned Bitcoin they should have stuck to Drugs and laundering

everytime they mentioned Bitcoin it should have been a reference to a new Digital currency but instead they

tried pretending it as in reference to something they had authority over and tried to push it downs

peoples throats as some kind of illegal entity if you did not comply with them,

this confused people and helped them think that they could trust Mtgox because it was complying

with Fincern in some way when in fact Mtgox was never complying with anything.

[sergio]

I think Fincen should be liable since after all MtGox was licensed by FinCen and Fincen got 5 million from Gox which was really their customers money, so to some degree FinCen is liable since they got involved with Gox. Only a good lawyer can answer to what degree they are liable, I am not a lawyer.

If Fincen is not going to be responsible, it means Fincen is a liability and it would be good idea to stay away from it if there is no benefit to it and only helps to drain resources.

Also it would be a good idea to create a decentralized bitcoin, altcoin exchange.
And for centralized exchanges some sort of rating system.

[camosoul]

Only a good lawyer can answer to what degree they are liable, I am not a lawyer.

FinCEN is the Guv. The Guv makes the Laws. The Laws will benefit FinCEN and not hold them accountable... And even if not, the current state of Fed USA is to selectively enforce, or just make it up as they go. The crazies are running the asylum and most lawyers will tell you that it's all subjective and the actual law barely counts anymore. The ones that don't just want your money on a case they know you won't win.

[repentance]

I think Fincen should be liable since after all MtGox was licensed by FinCen and Fincen got 5 million from Gox which was really their customers money, so to some degree FinCen is liable since they got involved with Gox. Only a good lawyer can answer to what degree they are liable, I am not a lawyer.

MtGox wasn't "licensed by FinCEN".  FinCEN doesn't license anyone.  It's a Department of the US Treasury which is responsible for collecting financial intelligence.  Licensed financial services are required to register with FinCEN and provide it with certain information in relation to transactions conducted by their business.

The MtGox funds which were seized by the government were seized by the Department of Homeland Security.  More specifically, it was the US Secret Service (a department within DHS) which obtained the warrants to seize the funds.

[superduh]

i wouldn't mind if fincen bailed out mtgox. not likely though

[hellscabane]

i wouldn't mind if fincen bailed out mtgox. not likely though

For some reason seeing the words "bailed out" and "Mt. Gox" in that close of a proximity makes me cringe.

Naturally, I wouldn't mind if there was a way to get all the people that got goxxed what they deserve, but bailing out Mt. Gox would be an absolute travesty in my eyes.

[repentance]

i wouldn't mind if fincen bailed out mtgox. not likely though

FinCEN has no power to "bail out" anyone.

[LostDutchman]

Let's just throw a bunch of words together and pretend they mean something!

I think the OP already did that!

My $.02.

[lemipawa]

Good job

[Beliathon]

Only a good lawyer can answer to what degree they are liable, I am not a lawyer.

FinCEN is the Guv. The Guv makes the Laws. The Laws will benefit FinCEN and not hold them accountable... And even if not, the current state of Fed USA is to selectively enforce, or just make it up as they go. The crazies are running the asylum and most lawyers will tell you that it's all subjective and the actual law barely counts anymore. The ones that don't just want your money on a case they know you won't win.

QFT.

Welcome to reality, the world is not fair. The game is rigged, you are a pawnslave, etc.