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Author Topic: More Clarity on US Regulation --> Bad for Bitcoin Entrepreneurs  (Read 501 times)
juanbllanos
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May 09, 2013, 06:12:10 PM
 #1

http://contrariancompliance.com/2013/05/09/its-official-foreign-bitcoin-operators-servicing-texas-residents-must-obtain-a-texas-money-transmitter-license/

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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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May 09, 2013, 06:49:16 PM
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I wonder what the effect would be of servicing Texas residents without a licence.
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May 10, 2013, 03:27:14 PM
 #3

Operating without a license is a federal crime in the United States!
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May 10, 2013, 03:36:34 PM
 #4

If I were in Mongolia? And sent bitcoins to a Texas resident.Would US go to my ger for transmitting some bitcoins?

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BitJohn
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May 10, 2013, 03:39:24 PM
 #5

I'm pretty sure Chuck Norris of the Texas Rangers can go wherever he pleases! On a more serious not of course they wont come get you in Mongolia.
juanbllanos
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June 03, 2013, 09:20:07 PM
 #6

If I were in Mongolia? And sent bitcoins to a Texas resident.Would US go to my ger for transmitting some bitcoins?

If you had a big enough business, I'm sure the federal law enforcement agencies of the US would.  Just look at E-Gold, and more recently Liberty Reserve (although these guys were allegedly committing other serious crimes).
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June 03, 2013, 09:22:09 PM
 #7

I wonder what the effect would be of servicing Texas residents without a licence.

If you had a big enough business, the US federal authorities would track you down, gather evidence and make a case.  If accepted by a grand jury, you'd then be indicted (formally accused), and brought to trial.  All of this is facilitated when jurisdictions have mutual legal assistance treaties, which facilitate the processing of cases.  Still, the US has an enormous amount of extra territorial power.
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June 03, 2013, 10:06:23 PM
 #8

If I were in Mongolia? And sent bitcoins to a Texas resident.Would US go to my ger for transmitting some bitcoins?
No one messes with Texas  Grin

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June 03, 2013, 11:03:43 PM
 #9

The US government should replace social security numbers with BTC addresses. 
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