Coinbase banned Germany & Luxembourg

[mayax]

just other solution for buying bitcoin
- buy payeer usd
- deposit usd at BTC-E
- buying bitcoin at BTC-E
- withdraw the bitcoin to your wallet

Who is BTC-e? A ghost company. Where is their physical office, where is their financial license being incorporated in EU?

How can you entrust your money to an unlicensed company?

[onleines]

The European Commission plans new rules on anti-money laundering.

http://europa.eu/rapid/press-release_IP-16-2380_en.htm

and there is a part to virtual currencies:

Tackling terrorist financing risks linked to virtual currencies: to prevent misuse of virtual currencies for money laundering and terrorist financing purposes, the Commission proposes to bring virtual currency exchange platforms and custodian wallet providers under the scope of the Anti-Money Laundering Directive. These entities will have to apply customer due diligence controls when exchanging virtual for real currencies, ending the anonymity associated with such exchanges;

As of 01.01.2017 the EU directive must be transposed into national law.
Perhaps BaFin was so fast and turns it already now.

[The_Hamburglar]

just other solution for buying bitcoin
- buy payeer usd
- deposit usd at BTC-E
- buying bitcoin at BTC-E
- withdraw the bitcoin to your wallet

Who is BTC-e? A ghost company. Where is their physical office, where is their financial license being incorporated in EU?

How can you entrust your money to an unlicensed company?

You might as well ask "how can you buy crack from an unlicensed distributor?" It's Germany, once all the legal BTC channels are cut off, shady shit like BTC-e is all you got left.

[gentlemand]

I don't think a VPN is going to help anyone. It's not as if you can fart on Coinbase without providing a smear sample. As soon as they know you're a German then I guess it's game over if all this is true.

If it does take some licencing then I assume they'll go for it. It can't be as onerous as the US.

[elyas772]

just other solution for buying bitcoin
- buy payeer usd
- deposit usd at BTC-E
- buying bitcoin at BTC-E
- withdraw the bitcoin to your wallet

Who is BTC-e? A ghost company. Where is their physical office, where is their financial license being incorporated in EU?

How can you entrust your money to an unlicensed company?

You might as well ask "how can you buy crack from an unlicensed distributor?" It's Germany, once all the legal BTC channels are cut off, shady shit like BTC-e is all you got left.

sorry im from asia, iam confution with your "financial license" for buying bitcoin, i think you need only some minute, buying payeer deposit BTC-E then buying BTC, and withdraw your bitcoin, in my coutry, goverment can't touch my bitcoin, no tax etc.

[The_Hamburglar]

sorry im from asia, iam confution with your "financial license" for buying bitcoin, i think you need only some minute, buying payeer deposit BTC-E then buying BTC, and withdraw your bitcoin, in my coutry, goverment can't touch my bitcoin, no tax etc.

Ah, got it. This thread is about Germany, see topic.

[Slow death]

For I logged into my account coinbase I enter my e-mail account and confirm in the confirmation link, because according coinbase phaco login from another country, that's funny in the email looks like the following:

"A device or location never seen before is requesting access to your account" and the email is the country that makes such access, my country.

Every time is the same, i use the same IP ...


 maybe you should ask help the support.

[BellaBitBit]

Hopefully this is not the beginning of a more major attack on Bitcoin. I also wouldn't be surprised to see in the coming months, although, that they resolve the issue and are able to sell to their German customers again. Coinbase offers a great service and the German people deserve to be able to take part in the program.

It is not the beginning of a major attack on Bitcoin...it is an ongoing attack.  It doesn't matter what Germany does, Bitcoin is a global decentralized currency that no one country or person can prevent from happening.  I like news like this, it means they are scared 

[tiggytomb]

Wow, I did not realise that it was not allowed in these countries, Coinbase seem to be very strict in terms of abiding by the different laws, I guess to operate in this scene you have to somewhat.

I am not sure how feasible it would be to use a VPN as you would surely need to link you bank details as that's how Coinbase allows you to buy and sell and I would think it would show up that you are located in DE via your bank details

[The_Hamburglar]

I am not sure how feasible it would be to use a VPN

An excellent way to get your account frozen.  Would only do it if there were no other options, which there are.

It doesn't matter what Germany does, Bitcoin is a global decentralized currency that no one country or person can prevent from happening.  I like news like this, it means they are scared  

Careful with that edge, Eugene.

[vlom]

The European Commission plans new rules on anti-money laundering.

http://europa.eu/rapid/press-release_IP-16-2380_en.htm

and there is a part to virtual currencies:

Tackling terrorist financing risks linked to virtual currencies: to prevent misuse of virtual currencies for money laundering and terrorist financing purposes, the Commission proposes to bring virtual currency exchange platforms and custodian wallet providers under the scope of the Anti-Money Laundering Directive. These entities will have to apply customer due diligence controls when exchanging virtual for real currencies, ending the anonymity associated with such exchanges;

As of 01.01.2017 the EU directive must be transposed into national law.
Perhaps BaFin was so fast and turns it already now.

what about bitstamp? will bitstamp be shut down in germany too? now news on their website.

[pedrog]

The European Commission plans new rules on anti-money laundering.

http://europa.eu/rapid/press-release_IP-16-2380_en.htm

and there is a part to virtual currencies:

Tackling terrorist financing risks linked to virtual currencies: to prevent misuse of virtual currencies for money laundering and terrorist financing purposes, the Commission proposes to bring virtual currency exchange platforms and custodian wallet providers under the scope of the Anti-Money Laundering Directive. These entities will have to apply customer due diligence controls when exchanging virtual for real currencies, ending the anonymity associated with such exchanges;

As of 01.01.2017 the EU directive must be transposed into national law.
Perhaps BaFin was so fast and turns it already now.

what about bitstamp? will bitstamp be shut down in germany too? now news on their website.

They're good in Germany:

Bitstamp’s license is passportable into the 28 EU member states providing all European customers with a robust, secure platform for bitcoin trading.

https://www.bitstamp.net/article/bitstamp-first-nationally-licensed-btc-exchange/

[Yakamoto]

I'm not surprised that Germany is banning Bitcoin, or at least what seems to be businesses that are actively involved with Bitcoin. They're going and trying to exert whatever control over everyone they can now, and that includes banning whatever means of transferring value aside from their beloved Euro.

This has nothing to do with terrorism, or at least they know it will have next to no effect on terrorism and terrorist's ability to carry out attacks.

[extrabyte]

Sorry! Buy & Sell not available in Germany

We are not able to Provide exchanging bitcoin in your region yet. Consider Contacting your local government. Learn More>

It seems to be also affected Luxembourg alongside Germany.
The rest of Europe (32) are not affected.

I checked the last issues on their support websites and seems that on May they had some bugs and they were fixing them, now they have removed it from the official websites https://www.coinbase.com/global?locale=en , if germany started to not accept coinbase on their country, I have a feeling that also other EU countries will 'ignore' coinbase, because of this bitcoin price crashed today?

[Bitcoinsummoner]

Honestly many people are complaining about coinbase their service is worst and very restricted online wallet.. better to fin other wallet.. if your place is banned.. Honestly i experience of delay receiving in coinbase and i tried to experience that from my primedice account and send it to coinbase i experience in delay to receive it takes a week before i receive my bitcoin in my wallet..

[Divinespark]

That's a bit unfortunate but my understanding is that Coinbase has not been active in Germany from the outset, which is actually pretty strange as Germany is basically BTC friendly.

[isvicre]

just other solution for buying bitcoin
- buy payeer usd
- deposit usd at BTC-E
- buying bitcoin at BTC-E
- withdraw the bitcoin to your wallet

Who is BTC-e? A ghost company. Where is their physical office, where is their financial license being incorporated in EU?

How can you entrust your money to an unlicensed company?

I trust my money to btc-e and sleep easy.  I don't need to visit a physical office and that they don't have a license does not bother me. The exchange functions,  it has for a long time and their service is good. Each to their own I guess.

[isvicre]

just other solution for buying bitcoin
- buy payeer usd
- deposit usd at BTC-E
- buying bitcoin at BTC-E
- withdraw the bitcoin to your wallet

Who is BTC-e? A ghost company. Where is their physical office, where is their financial license being incorporated in EU?

How can you entrust your money to an unlicensed company?

I trust my money to btc-e and sleep easy.  I don't need to visit a physical office and that they don't have a license does not bother me. The exchange functions,  it has for a long time and their service is good. Each to their own I guess.

Isn't that the case with all exchanges (Gox; Cryptsy)? They're great until they aren't?

Yes,  that's why I only keep a very small amount of my total cryptos on there.  When I want to hedge I can do it quickly.  I never lost with either of those 2 sites,  or used them much but what was with cryptsy,  did they have a license?

[birr]

Coinbase requires proof of address, like any institution that needs to do kyc to comply with the law.
You need an address outside Germany, with proof, like a utility bill.
Using a vpn isn't gonna cut the mustard.

[calkob]

Thats very strange, i wonder why germany has taken a etance like that, ah well their loss.....