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Author Topic: Look at this link - I think it's a very positive change in policy for MTGox  (Read 1269 times)
btc237ftw
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May 30, 2013, 10:46:10 AM
 #1

https://mtgox.com/press_release_20130530.html

I think such steps will help making the Bitcoin marketplace a much safer place, as main-stream people and industries will be able to get in when regulation is done correctly.
I know many people dont want regulation, but regulation is needed to make sure the operation is legal and reduce the ilegal activity of Bitcoin such as money laundering and drugs etc...

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May 30, 2013, 11:42:14 AM
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I think in order to survive all exchanges especially ones as big as mtgox need to follow all the rules 100%. This was inevitable to happen to bitcoin exchanges.
I think it is a step in the right direction for bitcoin because it will become more main streem.
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May 30, 2013, 03:09:39 PM
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This could definitely be a positive, but I think a more important step is when the Bitcoin market is not predominantly Mt. Gox.  Relying on any one exchange is definitely a vulnerability.
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May 30, 2013, 03:13:49 PM
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I see this being a step to meet the somewhat ambuguous regulatory rules that might or might not apply to their buisness, especially in the US. I see nothing negative in it.

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May 30, 2013, 04:08:08 PM
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I'm happy to see they're taking their AML/KYC seriously. 

Marco Santori is a lawyer, but not your lawyer, and this is not legal advice.  If you do have specific questions, though, please don't hesitate to PM me.  We've learned this forum isn't 100% secure, so you might prefer to email me.  Maybe I can help!  Depending upon your jurisdiction, this post might be construed as attorney advertising, so: attorney advertising Smiley
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May 30, 2013, 04:36:08 PM
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+1
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May 30, 2013, 04:40:46 PM
 #7

let me get this straight...


1)
if you put bitcoins in mtgox... you don't need any verification...

= VERY EASY BITCOIN DEPOSIT


2)
if you try to withdraw your bitcoins/usd/money... you need to get verified... and provide all their requirements... (heck they can ask for the color of your underwear too?)

= VERY HARD WITHDRAWAL



either way... its  WIN/WIN for MTGOX... if you cannot verify your account... they get to keep your money...


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pilotniq
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May 30, 2013, 05:31:31 PM
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2)
if you try to withdraw your bitcoins/usd/money... you need to get verified... and provide all their requirements... (heck they can ask for the color of your underwear too?)

= VERY HARD WITHDRAWAL
How is taking a photo of your ID card and a bill, and uploading the two digital files to them "very hard"?
btc237ftw
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May 30, 2013, 06:01:11 PM
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Quote
2)
if you try to withdraw your bitcoins/usd/money... you need to get verified... and provide all their requirements... (heck they can ask for the color of your underwear too?)

Withdrawing bitcoins can be done without verification...

Quote
As a result, beginning May 30th, 2013 all Mt. Gox user accounts are required to be verified in order to perform any currency deposits and withdrawals. Bitcoin deposits do not need verification, and at this time we are not requiring verification for Bitcoin withdrawals.
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May 30, 2013, 06:43:32 PM
 #10

2)
if you try to withdraw your bitcoins/usd/money... you need to get verified... and provide all their requirements... (heck they can ask for the color of your underwear too?)

= VERY HARD WITHDRAWAL
How is taking a photo of your ID card and a bill, and uploading the two digital files to them "very hard"?


The verification doesn't even take that long these days.  It's about 24 hours at most, and the queue is a few hundred long.

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