"Sources said traders would have a hard time getting US dollars out of Mtgox"

[bootlace]

Quote from 4th paragraph of this article: http://www.nypost.com/p/news/business/crackdown_on_bitcoin_exchange_jdjp9NaLCdypnhcu6JBQLN

What does this mean exactly? Will no users in the US be able to cash out? Will this lead everyone to buy BTC and transfer somewhere else? Thoughts on how this is going to play out?

[N12]

AFAIK international wires are working fine.

[bitcon]

appears dwolla is taking some heat, but gox wires usd directly to my bank are not affected.  but i mostly use virwox anyways.

[fitty]

AFAIK international wires are working fine.

AFAIK, meaning before the DHS court order on Dwolla?

Why on earth would you block Dwolla, and let MtGox use wire transfers headed to or from the USA? You can easily block those.

If you're going to block Dwolla, it makes sense you'd also block wires. Otherwise what's the point? People will just use wires, what have you really accomplished?

I certainly wouldn't send or request a wire to or from MtGox. I'd let someone else test that. You can just convert everything to coins, move it off MtGox, and get your money from another exchange. Why even risk it? The DHS is after MtGox, it makes sense to avoid the drama and just use another exchange.

[Terpie]

This is not an attack on bitcoin, this is an attack on Mt. Gox being non-compliant with KYC/AML/Registrations requirements. DHS has seized Mt. Gox assets. They are not going to seize wire transfers from Mt. Gox to customer accounts, nor are they going to seize the assets of compliant exchanges. This episode just reiterates that bitcoin exchanges need to follow the letter of the law or the hammer is going to come down. It's a shame, really, since Mt. Gox has the cash to spend a few dollars hiring decent lawyers to ensure compliance.

[MonadTran]

This is not an attack on bitcoin, this is an attack on Mt. Gox being non-compliant with KYC/AML/Registrations requirements. DHS has seized Mt. Gox assets. They are not going to seize wire transfers from Mt. Gox to customer accounts, nor are they going to seize the assets of compliant exchanges. This episode just reiterates that bitcoin exchanges need to follow the letter of the law or the hammer is going to come down. It's a shame, really, since Mt. Gox has the cash to spend a few dollars hiring decent lawyers to ensure compliance.

The compliance to some stupid, perverse law imposed by a gang of thieves and murderers that is completely broke, and about to fall apart?
This is, quite obviously, an attack on Bitcoin. Compliance, ultimately, means keeping your dollars, and watching them become worthless.

[hmmmstrange]

When are they going to seize the mtgox.com domain name? Does mtgox have a ".bit" domain?

[MAbtc]

This is not an attack on bitcoin, this is an attack on Mt. Gox being non-compliant with KYC/AML/Registrations requirements. DHS has seized Mt. Gox assets. They are not going to seize wire transfers from Mt. Gox to customer accounts, nor are they going to seize the assets of compliant exchanges. This episode just reiterates that bitcoin exchanges need to follow the letter of the law or the hammer is going to come down. It's a shame, really, since Mt. Gox has the cash to spend a few dollars hiring decent lawyers to ensure compliance.

Not speculating, but do not take this as a given. The feds do not put customers first. They can certainly seize incoming wires to customers, specifically for noncompliance issues, and have. Just ask UseMyWallet or eWalletXpress users. Or Full Tilt Poker players.

[dexX7]

Quote from 4th paragraph of this article: http://www.nypost.com/p/news/business/crackdown_on_bitcoin_exchange_jdjp9NaLCdypnhcu6JBQLN

What does this mean exactly? Will no users in the US be able to cash out? Will this lead everyone to buy BTC and transfer somewhere else? Thoughts on how this is going to play out?

I bet they interviewed some random person who said something like "Dwolla is important for US traders, because it's an easy way to get money in and out". There is not any sign, that other payment methods are affected.

[dust]

AFAIK international wires are working fine.

appears dwolla is taking some heat, but gox wires usd directly to my bank are not affected.  but i mostly use virwox anyways.

Isn't it unknown if wires are working until someone sends or receives one that was initiated after the Dwolla incident?

[joesmoe2012]

AFAIK international wires are working fine.

appears dwolla is taking some heat, but gox wires usd directly to my bank are not affected.  but i mostly use virwox anyways.

Isn't it unknown if wires are working until someone sends or receives one that was initiated after the Dwolla incident?

Then they'll just freeze everyone who wire's in money's account :p

[pwi]

This is not an attack on bitcoin, this is an attack on Mt. Gox being non-compliant with KYC/AML/Registrations requirements. DHS has seized Mt. Gox assets. They are not going to seize wire transfers from Mt. Gox to customer accounts, nor are they going to seize the assets of compliant exchanges. This episode just reiterates that bitcoin exchanges need to follow the letter of the law or the hammer is going to come down. It's a shame, really, since Mt. Gox has the cash to spend a few dollars hiring decent lawyers to ensure compliance.

Not speculating, but do not take this as a given. The feds do not put customers first. They can certainly seize incoming wires to customers, specifically for noncompliance issues, and have. Just ask UseMyWallet or eWalletXpress users. Or Full Tilt Poker players.

<-- this Free markets exist only within the confines of the overlord's definition of free.

ATM gox is rallying as people buy coins to withdraw. I follow campbx.com and others, and the sell offs continue to come in waves. Whatever the issue is with gox and any criminal/laundering behavior, expect the coin to be moved to other exchanges and sold off for fiat-->dwolla/ACH. For now its just a bump in the road for the bad guys. 

As is customary, the legit users of the coin will suffer at the hands of the government. This follows the same logic of why my dear old mum gets the baby powder she applies under her boobs to prevent boob sweat checked by TSA. Some idiots like to blow shit up and money launder. My mum gets her tits examined by someone with a fourth grade education and a chip on their shoulder, and casual bitcoiners will be scrutinized because the gov't has no problems punishing the many to maybe catch a few.

How long before bx et al get the dwolla and possibly US banking banhammer?

[Crypt_Current]

This is not an attack on bitcoin, this is an attack on Mt. Gox being non-compliant with KYC/AML/Registrations requirements. DHS has seized Mt. Gox assets. They are not going to seize wire transfers from Mt. Gox to customer accounts, nor are they going to seize the assets of compliant exchanges. This episode just reiterates that bitcoin exchanges need to follow the letter of the law or the hammer is going to come down. It's a shame, really, since Mt. Gox has the cash to spend a few dollars hiring decent lawyers to ensure compliance.

Not speculating, but do not take this as a given. The feds do not put customers first. They can certainly seize incoming wires to customers, specifically for noncompliance issues, and have. Just ask UseMyWallet or eWalletXpress users. Or Full Tilt Poker players.

<-- this Free markets exist only within the confines of the overlord's definition of free.

ATM gox is rallying as people buy coins to withdraw. I follow campbx.com and others, and the sell offs continue to come in waves. Whatever the issue is with gox and any criminal/laundering behavior, expect the coin to be moved to other exchanges and sold off for fiat-->dwolla/ACH. For now its just a bump in the road for the bad guys. 

As is customary, the legit users of the coin will suffer at the hands of the government. This follows the same logic of why my dear old mum gets the baby powder she applies under her boobs to prevent boob sweat checked by TSA. Some idiots like to blow shit up and money launder. My mum gets her tits examined by someone with a fourth grade education and a chip on their shoulder, and casual bitcoiners will be scrutinized because the gov't has no problems punishing the many to maybe catch a few.

How long before bx et al get the dwolla and possibly US banking banhammer?

tit sweat??  Is your mom the Tourettes Guy?? 

[pwi]

This is not an attack on bitcoin, this is an attack on Mt. Gox being non-compliant with KYC/AML/Registrations requirements. DHS has seized Mt. Gox assets. They are not going to seize wire transfers from Mt. Gox to customer accounts, nor are they going to seize the assets of compliant exchanges. This episode just reiterates that bitcoin exchanges need to follow the letter of the law or the hammer is going to come down. It's a shame, really, since Mt. Gox has the cash to spend a few dollars hiring decent lawyers to ensure compliance.

Not speculating, but do not take this as a given. The feds do not put customers first. They can certainly seize incoming wires to customers, specifically for noncompliance issues, and have. Just ask UseMyWallet or eWalletXpress users. Or Full Tilt Poker players.

<-- this Free markets exist only within the confines of the overlord's definition of free.

ATM gox is rallying as people buy coins to withdraw. I follow campbx.com and others, and the sell offs continue to come in waves. Whatever the issue is with gox and any criminal/laundering behavior, expect the coin to be moved to other exchanges and sold off for fiat-->dwolla/ACH. For now its just a bump in the road for the bad guys. 

As is customary, the legit users of the coin will suffer at the hands of the government. This follows the same logic of why my dear old mum gets the baby powder she applies under her boobs to prevent boob sweat checked by TSA. Some idiots like to blow shit up and money launder. My mum gets her tits examined by someone with a fourth grade education and a chip on their shoulder, and casual bitcoiners will be scrutinized because the gov't has no problems punishing the many to maybe catch a few.

How long before bx et al get the dwolla and possibly US banking banhammer?

tit sweat??  Is your mom the Tourettes Guy?? 

Lol 😁

I now abstain from powdering my boys to prevent unnecessary delays when flying. I will continue to buy, sell, and hold coin so long as it doesn't lead to secondary inspection of my wedding tackle when traveling by air.

[Ares]

How do we not have an explanation yet?

Surely when either Gox or Dwolla got the message they asked "why", so has the DHS just said "lol its a secret"?

[relm9]

How do we not have an explanation yet?

Surely when either Gox or Dwolla got the message they asked "why", so has the DHS just said "lol its a secret"?

From their Facebook page:

Like many who have contacted us, MtGox has read on the Internet that the United States Department of Homeland Security had a court order and/or warrant issued from the United States District Court in Maryland which it served upon the Dwolla mobile payment service with respect to accounts used for trading with MtGox. We take this information seriously. However, as of this time we have not been provided with a copy of the court order and/or warrant, and do not know its scope and/or the reasons for its issuance. MtGox is investigating and will provide further reports when additional information becomes known.

[smoothie]

The world we live in is driven by FUD lol

[EuroTrash]

How do we not have an explanation yet?

Surely when either Gox or Dwolla got the message they asked "why", so has the DHS just said "lol its a secret"?

Gox are a bunch of former geeks turned rich liars overnight.
And they are trying to stay that way without bringing any more innovation to the table.
In recent occasions they have denied and delayed important news rather than delivering them.

Some examples? CoinLab deal. SEPA withdrawals in April. Alleged DDOS attacks.

[Ares]

How do we not have an explanation yet?

Surely when either Gox or Dwolla got the message they asked "why", so has the DHS just said "lol its a secret"?

Gox are a bunch of former geeks turned rich liars overnight.
And they are trying to stay that way without bringing any more innovation to the table.
In recent occasions they have denied and delayed important news rather than delivering them.

Some examples? CoinLab deal. SEPA withdrawals in April. Alleged DDOS attacks.

They lost me as a customer. Decentralizing from gox could outweigh any negative effect from whatever the cause of this whole dwolla issue is.

[zby]

Where does MtGox send international wire transfers from?  Recently I got some from Chase Morgan in New York - has US authorities closed this one as well?