Bitcoin Forum
July 22, 2018, 01:47:14 PM *
News: Latest stable version of Bitcoin Core: 0.16.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: American "Financial Crimes Enforcement Network" wants to force bitcoin exchanges  (Read 586 times)
SebastianJu
Legendary
*
Offline Offline

Activity: 2156
Merit: 1013


Legendary Escrow Service - Tip Jar in Profile


View Profile WWW
March 20, 2013, 10:53:46 PM
 #1

to comply with money laundering laws. Will this have a remarkable effect to bitcoins? Or will it only apply to american citizens?

http://arstechnica.com/tech-policy/2013/03/us-regulator-bitcoin-exchanges-must-comply-with-money-laundering-laws/

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
1532267234
Hero Member
*
Offline Offline

Posts: 1532267234

View Profile Personal Message (Offline)

Ignore
1532267234
Reply with quote  #2

1532267234
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1532267234
Hero Member
*
Offline Offline

Posts: 1532267234

View Profile Personal Message (Offline)

Ignore
1532267234
Reply with quote  #2

1532267234
Report to moderator
1532267234
Hero Member
*
Offline Offline

Posts: 1532267234

View Profile Personal Message (Offline)

Ignore
1532267234
Reply with quote  #2

1532267234
Report to moderator
1532267234
Hero Member
*
Offline Offline

Posts: 1532267234

View Profile Personal Message (Offline)

Ignore
1532267234
Reply with quote  #2

1532267234
Report to moderator
Mike Christ
aka snapsunny
Legendary
*
Offline Offline

Activity: 1078
Merit: 1000



View Profile
March 20, 2013, 11:01:37 PM
 #2

A few of the commenters are pointing out that the gov can't trace Bitcoin to any one person, so it's a pointless practice to monitor the exchanges.

However, the trades which occur on, say, Mt Gox, are mostly data on the site; no Bitcoin is actually passed around until people deposit and withdraw.  So they can, in fact, monitor what coins and cash are going where, as you must give them all your info, your name, your address, your everything that can be traced back to you.

In other words, if you're laundering, you won't use an exchange, since it has everything anyone would ever need to incarcerate you.

So...who will they be monitoring?

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!