Mt. Gox is just the beginning.

[marcus_of_augustus]

US govt. agent???

... got an extra special ignore button for them.

[btchaver]

Well considering its the number one exchange in the world for bitcoins it has to be closely watched and regulated and maybe thats one of the reaons for being in this situation who knows so dont comment on something you dont know even though i do it all the time best thing is to let who ever knows what is really happening let them figure it out with mtgox and i hope its resolved for everyones sake and mtgox also.  Hate to see something happen to btc just because of mtgox or to mtgox just because of being the number 1 exchange.  im shure if this was a small excahnge all of these things would go unoticed for the most part but becuase of the amount of money involved maybe thats why who knows.  Whatever just hope for the best i guess i really dont know.

[CasinoBit]

    Mt.Gox will get shut down.  They have attracted the attention of government organizations across the world, and their failure to comply with international law will stand no longer.  They were given multiple warnings and chances to operate inside of the law, but they refused.  Clients who do not remove their funds from MtGox risk seizure and forfeiture.

     Mt.Gox's closing will serve as a warning to all the unlicensed illegal currency exchanges; Comply or you are next.  If you are a customer of one of the other illegal exchanges, know that you are also risking seizure and forfeiture of your funds. You have been forewarned.

They haven't filled the papers the right way, forgot to check a couple of boxes, you speak as if they were taken down for no reason. Who knows, they might have registered as a money transmitter with FinCEN and no one would have shot them down.

[linuxer]

Sure, they will classified bitcoin network as a big botnet and will issue warrant to shut it down.


LOL

[bozak]

Make light of it if you wish. A lot of you wont be laughing when the exchanges serving the US (and Europe for that matter) get shut down one by one for non-compliance.

And what about the US based exchanges with the proper licenses?

Which US exchanges have the proper licenses?  I've been trying to figure this out, no luck so far. 

Coinbase, for one.  They are not a full service exchange like Gox, but you can link it to your bank account and then do buys and sells.

Are you sure about that?  I can't find any documentation about Coinbase actually filling as a money transfer business.  I also emailed them a few days ago asking this question and they have not yet responded. 

[Pale Phoenix]

Are you sure about that?  I can't find any documentation about Coinbase actually filling as a money transfer business.  I also emailed them a few days ago asking this question and they have not yet responded.  

Coinbase is definitely registered.

Go to the FinCen MSB Registration Search page and type Coinbase into the Legal Name field.
http://www.fincen.gov/financial_institutions/msb/msbstateselector.html

P.S. SEC Agent... one of the lamest buckets of FUD in recent memory.

[superduh]

it is illegal to pass yourself off as a government agent when one is not

[bozak]

Are you sure about that?  I can't find any documentation about Coinbase actually filling as a money transfer business.  I also emailed them a few days ago asking this question and they have not yet responded.  

Coinbase is definitely registered.

Go to the FinCen MSB Registration Search page and type Coinbase into the Legal Name field.
http://www.fincen.gov/financial_institutions/msb/msbstateselector.html

P.S. SEC Agent... one of the lamest buckets of FUD in recent memory.

Thanks for the link, that is exactly what I was looking for.  Coinlab also registered, but not currently acting as an exchange since the Gox deal blew up.

[Cryptoman]

My reply to "SEC agent" is that Bitcoin is just the beginning of the war against government-controlled money.  Soon there will be Ripple and Open Transactions and truly-anonymous, untraceable digital currencies.  Bitcoin should serve as a warning to all the governments that fail to respect the freedom and privacy of their citizens; embrace change or you are next.  You were given multiple warnings and chances to operate within your constitutions, but you refused.  If you are an employee of one of these governments, know that you are also risking your job and the value of your fiat-currency-denominated savings. You have been forewarned.

[QuestionAuthority]

U.S. government employees should be the ones that hate the bureaucracy the most. I'm sure below free market wages, mid range health insurance and less vacation time than big business offers are wonderful though. I hope you have enough savings to cover your next unpaid furlough dumbass.

A GS-9 step 10 makes $54k a year and requires a masters degree - my neighbors kid made $19.00 an hour at a company called Allied as a security guard and studied at work while attending UCSF and with overtime made $47k a year.

The same GS-9 will get 4 hours of vacation per pay period or 12 days a year - the kid in college got 3 weeks from day one going to 30 days after 5 years.

The FEHB insurance plan brochures read like an overpriced nightmare - the kid is a union worker with free insurance and $5 copays.

[k3t3r]

    Mt.Gox will get shut down.  They have attracted the attention of government organizations across the world, and their failure to comply with international law will stand no longer...

...

Which international law did they fail to comply with?

[knybe]

Mtgox is run by incompetent, other-than-A-list players who got lucky to be one of the first exchanges in this space. Unless they get on the ball quick, their days are numbered.

What is happening now is that the A-listers are becoming very interested in the cc market. It will be a matter of time before gov is being pandered to and complied with to the great success of smart thinkers just now getting into this concept.

[ammo88]

Haha, the best part about this FUD is it's subtlety.

OK, you can call me noob. But I just couldn't figure out what FUD meant so I googled it. It just gave me THE laughter of all time check out the picure below xD

http://postimg.org/image/r47aw7uwr/

[oaxaca]

it is illegal to pass yourself off as a government agent when one is not

That's his username.  Nothing illegal about choosing a unique username in an online forum.

[BitcoinAuthor]

The largest exchange not being on US Soil is bad for the Government. What's not in the US can't be controlled. Gox gave them an excuse to shut down their accounts. Any excuse would have done.

[ammo88]

The largest exchange not being on US Soil is bad for the Government. What's not in the US can't be controlled. Gox gave them an excuse to shut down their accounts. Any excuse would have done.

I would guess the US government is pissed off like never before because of this. ^^ The US loves to control stuff.. at least that's what the rest of the world thinks.

I keep my fingers crossed that MtGox gives the US govt as close to nothing regarding customers' credentials and similar info. I do believe that's actually the case. Japanese as well as the chinese purposely perform less than their potential when they know it would result in gains for another country or a company that was founded by another country. This mentality I've noticed a lot when I've worked abroad in these countries... I think it's part of their culture, to be such nationalists and do everything they can to favour their motherland. I encourage this!

[Sir Lagsalot]

The SEC is really getting it together! They've advanced from browsing porn [SFW] to trolling internet forums. Another few years and they might even start investigating big banks and other insiders.

[Moebius327]

*Fastest ignore ever*

You can ignore this guy as much as you like, but I am still waiting for my frozen € at bitcoin-24.com (biggest EU exchange)

[Pale Phoenix]

The SEC is really getting it together! They've advanced from browsing porn [SFW] to trolling internet forums. Another few years and they might even start investigating big banks and other insiders.

+1

[Pale Phoenix]

The largest exchange not being on US Soil is bad for the Government. What's not in the US can't be controlled.

Unfortunately, that's no longer true, thanks to Mutual Legal Assistance Treaties. Here's the one between the U.S. and Japan: http://www.mofa.go.jp/region/n-america/us/treaty0308.html

I'm not implying that the U.S. will pursue Gox in Japan for failure to register with FinCen, but the mechanism is in place should they choose to.