Chances of MTGox seizing funds from US wallets?

[Jozzaboy]

Hi Bitcointalk,

I have at this time 60 bitcoins in my personal wallet but with the recent price volatility, I would like to day trade a little. Now, with all this talk about MTGox being an illegal money distributer, do you see any chance of Dep. of HS seizing a significant portion of their assets and thusly my assets?

I do see a lot of volume on MTGox recently so it seems people are rather confident but what do you think?

[escrow.ms]

Hi Bitcointalk,

I have at this time 60 bitcoins in my personal wallet but with the recent price volatility, I would like to day trade a little. Now, with all this talk about MTGox being an illegal money distributer, do you see any chance of Dep. of HS seizing a significant portion of their assets and thusly my assets?

I do see a lot of volume on MTGox recently so it seems people are rather confident but what do you think?

Well first you need to get your account verified and I don't think they can seize your money.

[radeonz]

Won't happen. It's a Japanese company. DHS seized their Mutum Sigillum account on Dwolla. This has no effect on MtGox trading, other than the fact that you'll have to withdraw your USD through some other way.

[Jozzaboy]

Gents,

Thanks, I have my account verified. Got it done a long time ago just in case I wanted to use it.

With MTGox not filling out some kind of paperwork though, is it possible I would have my funds taken even if I say... wired them out?

[radeonz]

Gents,

Thanks, I have my account verified. Got it done a long time ago just in case I wanted to use it.

With MTGox not filling out some kind of paperwork though, is it possible I would have my funds taken even if I say... wired them out?

No, but you will have to pay a large fee for the wire transfer.

The reason the Dwolla account was shut down was because the bank account that MtGox used to send funds from the US to its Japanese bank wasn't registered as a money transferring institution, which is illegal.  It has nothing to do with the legality of buying or selling bitcoin.

[Jozzaboy]

I see.

Thank you very much for the help brother and may your trades be ever profitable 

[BitshireHashaway]

Mt. Gox is fine and I would say there is no real risk of the funds being stolen from people's wallets... to many people would suffer and be angry about it if that were to happen.

[Mac21]

0