The Warrant against Dwolla and Bitcoin: The Beginning of the End of Bitcoin

[Operatr]

Well, if an exchange wants to run they must play by FinCENs rules or get shut down, like any other exchange.

These idiots didn't file the paperwork, and they are being punished for it.

Bitcoin (or its newly minted 20 or so offspring) itself isn't going anywhere, just people that don't bother to do the reading.

[rammy2k2]

thats a warrant for mt-gox, not for bitcoin ... TROLL

[Bitvik]

The way you treat others always comes back to you eventually. It probably didn't help Mt.Gox that they also promised to collaborate with their U.S. partner Coinlab and then reneged on their agreement...

[Mike Christ]

The way you treat others always comes back to you eventually. It probably didn't help Mt.Gox that they also promised to collaborate with their U.S. partner Coinlab and then reneged on their agreement...

This is probably why they wanted out of NA in the first place.  Oh well, whatever reason Gox had to stick around, I hope it was worth it.

[repentance]

Has anyone dug up the warrant which was used to seize the Wells Fargo account yet.  The Dwolla warrant says that the Wells Fargo account was seized days earlier.

Also, although the specific violation that's cited in the warrant relates to MtGox not registering with FinCEN, that very same section of the code also requires money transmitters to meet state registration requirements.  MtGox would still have been vulnerable even if they were registered with FinCEN because they haven't gone ahead with their plans for register at state level (something Mark said last year they were looking into, suggesting that he knew the requirement was there).

The warrants gave DHS the power to seize the Wells Fargo and Dwolla accounts, but it's highly possible that MtGox has committed a shit-ton of other violations apart from the one needed to justify the seizure and that action will be taken against them for more than just failing to register with FinCEN.