turtlehurricane (OP)
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July 22, 2015, 04:44:45 AM Last edit: September 27, 2015, 10:28:15 AM by turtlehurricane |
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tokeweed
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July 22, 2015, 05:15:26 AM |
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Are Bittrex, Cryptsy and Poloniex in danger of being shut down by the Feds?
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R |
▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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Amph
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July 22, 2015, 07:16:34 AM |
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Are Bittrex, Cryptsy and Poloniex in danger of being shut down by the Feds?
not cryptsy, they said they have every regulation needed to operate legally, i don't know about bittrex, but i would assume that intelligent operators know that governments are watching them if they deal with fiat and would take precautions
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RoadTrain
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July 22, 2015, 07:24:31 AM |
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This is kind've a big deal
Make me unsee it ![Cry](https://bitcointalk.org/Smileys/default/cry.gif)
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Mickeyb
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July 22, 2015, 10:02:56 AM |
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This is a well predicted behavior of the US government in my opinion. In the US everything has to be regulated and whatever poses a danger to the current system will in my opinion be attacked and extinguished.
I hope they don't act the same on Bitcoin but this is more likely than the other, positive behavior.
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Epileptic_Neurosurgeon
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July 22, 2015, 10:10:02 AM |
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Indeed, US is probably one of (or the) worst country to operate in without proper licenses. ![Lips sealed](https://bitcointalk.org/Smileys/default/lipsrsealed.gif)
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TrueBeliever
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July 22, 2015, 11:08:31 AM |
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Just more bad press for Bitcoin.
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bitcart
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July 22, 2015, 11:43:16 AM |
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This is not even close to the same situation. Charlie Shrem was directly connected to silk road drug money, also he wasn't a true exchange like coin.mx is. Hopefully this doesn't happen to Coinbase... Coinbase comply with regulations (maybe even more than they need to) so they won't get shut down.
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www.bitcart.ioBitcart - spend bitcoins online and save! Buy Amazon gift cards with bitcoin and save up to 20% off
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bitcart
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July 22, 2015, 11:49:10 AM |
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Once your account reaches a certain level of activity, Coinbase ask you a number of questions as to how you are funding your account to buy btc and what they are for. So this makes them compliant with AML.
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www.bitcart.ioBitcart - spend bitcoins online and save! Buy Amazon gift cards with bitcoin and save up to 20% off
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medUSA
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July 22, 2015, 12:25:33 PM |
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This might be the first time a Bitcoin trader was arrested without any obvious connections to crimes or drug money. The only crime in the 18 page legal document is a customer bought bitcoins for ransomware, which isn't a big deal. If someone used visa to pay ransomeware I'm sure the government wouldn't arrest the visa executives.
It's not the first time, not even close. A legendary member here was arrested for trading Bitcoin on LocalBitcoin (charges dropped). https://bitcointalk.org/index.php?topic=934268.0I believe you are right, FEDs are clamping down hard on trading without license and KYC compliance. That is the reason I have high hopes for legit exchanges like Gemini. They are taking forever to come online, but I think a few of those around the world (in large cities with solid legal framework) would set a new scene for Bitcoin.
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Trouble821
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July 22, 2015, 12:44:15 PM |
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Once your account reaches a certain level of activity, Coinbase ask you a number of questions as to how you are funding your account to buy btc and what they are for. So this makes them compliant with AML.
Coinbase is unlikely to be shut down. It is refusing to do business with people in certain states because they are afraid of breaking their local regulations. It's extremely paranoid about who it does business with and people have had their accounts closed for buying from Coinbase and then selling on Local Bitcoins. It probably reports anything and everything just to comply with regulations.
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bitcart
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July 22, 2015, 01:13:55 PM |
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Once your account reaches a certain level of activity, Coinbase ask you a number of questions as to how you are funding your account to buy btc and what they are for. So this makes them compliant with AML.
Coinbase is unlikely to be shut down. It is refusing to do business with people in certain states because they are afraid of breaking their local regulations. It's extremely paranoid about who it does business with and people have had their accounts closed for buying from Coinbase and then selling on Local Bitcoins. It probably reports anything and everything just to comply with regulations. Yeah I agree, Coinbase are overly cautious with their compliance of regulations.
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www.bitcart.ioBitcart - spend bitcoins online and save! Buy Amazon gift cards with bitcoin and save up to 20% off
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NorrisK
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July 22, 2015, 01:24:44 PM |
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So what happens to the customers balances? Will they be held by the feds until they figure out the money trails?
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bornil267645
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July 22, 2015, 01:27:19 PM |
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Just when you think things are getting simpler, then all on a sudden incidents like this appear. these kind of incidents make a bad impression on the outside world and bitcoin community.
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meono
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July 22, 2015, 01:57:22 PM |
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Just when you think things are getting simpler, then all on a sudden incidents like this appear. these kind of incidents make a bad impression on the outside world and bitcoin community.
Thats exactly the reason of this shutting down. Dont believe BS the feds say about the charges. The point isnt about to charge the owners,
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Amph
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July 22, 2015, 03:20:12 PM |
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So what happens to the customers balances? Will they be held by the feds until they figure out the money trails?
it well end the same as mtgox the whole amount will be auctioned, or otherwise if they can prove that those coins come from their wallet, they can consider something like 20%, like kraken did with mtgox?
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spazzdla
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July 22, 2015, 03:22:34 PM |
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Just when you think things are getting simpler, then all on a sudden incidents like this appear. these kind of incidents make a bad impression on the outside world and bitcoin community.
Thats exactly the reason of this shutting down. Dont believe BS the feds say about the charges. The point isnt about to charge the owners, THis they are all just a bunch of pigs that have been told by there masters what to do.
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tokeweed
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July 22, 2015, 03:23:05 PM |
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Just when you think things are getting simpler, then all on a sudden incidents like this appear. these kind of incidents make a bad impression on the outside world and bitcoin community.
Who cares. All the "community" cares about is getting rich out of this.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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Gleb Gamow
In memoriam
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July 22, 2015, 07:36:11 PM |
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Once your account reaches a certain level of activity, Coinbase ask you a number of questions as to how you are funding your account to buy btc and what they are for. So this makes them compliant with AML.
Sonny Vleisides of BFL used BitPay to launder over ten million dollars worth of bitcoins treating it like an exchange as I've fully documented. That one million dollars worth of bitcoins from HashTrade that BitPay processed, then showed the world via a press release, had not one satoshi of the bitcoins sent to BFL from HashTrade outside of BitPay's system. Since 2013 I've inquired about that transaction and the ONLY time it was mentioned by any camp was from BFL's cockroach after I made the mistake of inquiring about a different entity. https://bitcointalk.org/index.php?topic=150803.msg9353498#msg9353498https://bitcointalk.org/index.php?topic=150803.msg9353552#msg9353552I have no idea what you're talking about. HashFast never paid BFL anything, let alone $1M. That's the one completely idiotic question I'm answering, so you've used it up for everyone. I hope you're proud of yourself. That's how these lyin' cocksuckers play in this space! At least I see that the LEOs are honing in on Jeff Ownby, where one day his ass will be in the slammer and his wife will be fuckin' some other dudes not wanting to wait forever for his release. Anon Gambler: Here's my bitcoins. Let me play on your site. Jeff Ownby: You're good to go, bud. AG: Thanks. AG: I wish to cash out now. Jeff Ownby: Here you go. Laura Ownby: Honey, when can be take our next vacation? Jeff Ownby: I'm processing the expenses needed now, dear.
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