How long can BTC-E Stay in Business as a black market company?

[crazy_rabbit]

Now that the US is going after Gox for not being a properly licenses money services business, I wonder how long BTC-E can stay in business. Contrary to popular belief BTC-E is in Bulgaria not Russia- and Bulgaria isn't as likely as Russia to stand up to external pressure from the US government.

Also Bulgaria will be just as likely as the US to eventually go after an unlicensed (and it is, as far as we know, unlicensed) exchange. Bulgaria has many greater European integration ambitions so they will be keen to adhere to rules and regulations.

Does anyone know if BTC-E intends to come aboveboard and become a legally licensed exchange? I know the fun is in it being 'black market' but these days it should be obvious to all that can't last forever. They do deal in Fiat USD and Fiat EUR after all.

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[thekidcoin]

Its simple... in Soviet Russia you don't license Gox, Gox license you.

[cryptoanarchist]

I won't trade on a regulated exchange.

All the tools necessary to operate outside of any government's reach are already out there.

[sterob]

They are from Soviet Russia.

And if they could improve their security with yubikey, allow special character in password and their graph, they would be even more popular than Gox

[LeftToeCut]

Damn, BTC-E, what are you doing in EU, move out, we need unlicensed exchanges.

[crazy_rabbit]

They are from Soviet Russia.

And if they could improve their security with yubikey, allow special character in password and their graph, they would be even more popular than Gox

Bulgaria is not in Russia.

[fendlestick]

isnt this to do with the USD trading, the EU commission would probably need to do a report (many years) before they take any action on EUR trading which would likely need member approval in the majority to even go to a vote on maybe making it law.  All they will need to do is drop USD trades and peeps will need to withdraw in EUR so their bank can convert when the funds arrive.

edit- I don't see anything illegal in even getting paid in Zimbabwe dollars, my bank will exchange them when the money arrives and i'm sure many countries around the world would benefit from millions of dollars worth of trading in their currency each day, especially the poorer ones, but their money is still money!

[matauc12]

You imply gox was not compliant to regulations. But it Likely was compliant. So the issue is unknown at this time so hard to extrapolate.

[Thorgrim]

If the exchange does not trade in USD then the US has no authority to regulate jack squat. Easy solution

It would be nice to have an easy way to convert coins to fiat currency and back though.

[Theraty]

They are from Soviet Russia.

And if they could improve their security with yubikey, allow special character in password and their graph, they would be even more popular than Gox

Agree but they also need to make it easier to deposit with credit card and etc, awkward trying to deposit in foreign language.

[Twerka]

Please, do not ask for that stupid G00gle auth, you have to log in on google to login on other site. Google wants to got you under its eye 24hs.

BTC-e is secure, he sends you a confirmation email if you want to withdraw; and email account can't be changed with a confirmation either.

[Remember remember the 5th of November]

BTC-E is in Bulgaria

The hell??? I am from Bulgaria, and this is the first I've heard of that.

[tom_o]

They are from Soviet Russia.

And if they could improve their security with yubikey, allow special character in password and their graph, they would be even more popular than Gox

Not sure what you're on about I have more than 5 special chars in mine....

[01BTC10]

They don't use the US banking system.

[seleme]

Where did you get it is from Bulgaria?

I don't think so, they use loads of Russian payment deposit options including Russian banks etc and none of Bulgarian..

[DannyM]

edit- I don't see anything illegal in even getting paid in Zimbabwe dollars, my bank will exchange them when the money arrives and i'm sure many countries around the world would benefit from millions of dollars worth of trading in their currency each day, especially the poorer ones, but their money is still money!

Note that your bank will NOT exchange Zimbabwe dollars, nor will anyone else but a collector.

[aceking]

If they dont have bank accounts in usa why they should care ?

[vm1990]

America sticking there fat American figures where they dont belong again..... there the ones that screwed up the banking system and now they want bitcoin...

bit of luck UK will drop out of Europe and then BTC-E can move to here show America and EU what for.... or more than likely move to Japan or Russia

[TheKoziTwo]

If they dont have bank accounts in usa why they should care ?

If you don't, well, there is always the risk of getting arrested and have all assets frozen kim dotcom style. USSA

[exahash]

What's wrong with Bulgaria?  They've been advertising in Businessweek for a while now... 10% flat tax, very business friendly, sounds like a good place for a BTC exchange.