"Mt. Gox user accounts will have to be verified." (or use Bitcoin)

[Equilux]

(I had to drive a couple hours, wait in line, and pay for the apostille itself).

Jesus walked for many years before finding his first apostille.

Touche!

[ineededausername]

I really do not see the events of this month being bullish for Bitcoin unfortunately.  Fundamentally... if BTC cannot enter the economy then the price stagnates at best... decreases at worst.

I have been blogging about my technical analysis of Bitcoin but I have made a decision today to start cashing out through the remaining exchanges to limit my worst case risk.
http://www.adventcarraig.com/2013/05/30/bitcoin-concerns/

You have been cherrypicking the worst events to justify your bearish emotions. 

On the positive side, millions of dollars of VC funds are flowing into the system, and a better, regulation-compliant exchange that WILL reduce friction between bitcoin-world and fiat-world while eliminating regulatory risk is bound to come out of it, among other great services.  We are simply seeing a move into legitimacy.

[giantdragon]

I really do not see the events of this month being bullish for Bitcoin unfortunately.  Fundamentally...

Just look outside U.S. and you will be surprised

[dave111223]

The non-verified account limits were so low that it was basically pointless to be non-verified anyways.

Something like $1000 limit?  With that limit wire transfer fees would eat like 4% of your withdrawal.

I got verified before putting any money in Mt Gox.

[andrewsg]

Overall this is good news - proper AML will keep regulators away, the alternative is a Liberty Reserve scenario.

[passo]

this sucks for me so bad. I made quite a bit of money on the last bubble so i have some cash on mtgox. Problem is that i live in a squat and i dont have any bills on my name fom the latest 6 months. Im traveling allot so i try to avoid bills.. So now i have to buy back and move to bitstamp or something like that.

[DoomDumas]

I got out of MtGox arround a year and a half ago, and I had to get verified to withdraw BTC. 

Maybe I dont recall correctly, but I'm pretty sure because when I used MtGox, only BTC were used for deposit and withdraw. 

When I decided to quit MtGox, I was shocked to have to send ID to withdraw my BTC.

I'll never resume trading with MtGox, send any funds or whatever..

[Razick]

My thought exactly, but it could hurt the price long term as less fiat moves into BTC.

[Miz4r]

My thought exactly, but it could hurt the price long term as less fiat moves into BTC.

Short term perhaps, hard to say with all the variables involved. Big players mostly decide the market and they had to be verified anyway. But long term so many things will have changed I'm pretty sure the role this plays in the price will be completely insignificant or irrelevant.

[CurbsideProphet]

I thought the verification process has been standard for a long time.

I had to go through it last summer to pull some money out.

I've been verified for a while so I don't recall the exact amount but you were able to deposit and withdraw small sums without previously being verified.  It appears now you will need to be verified to do any deposits or withdrawals.

Verification was mandatory to use the Dwolla deposit option for at least the past year, not sure about the other methods.

I know when I started using MtGox (via Dwolla) there was no verification process from either company but that was back in 2011.  I do recall needing to be verified by both late 2012 or early 2013.  This makes me wonder though, if everyone was verified by BOTH sides, why was the Dwolla account frozen?  I understand they didn't have the licenses but they should be able to provide ample evidence that they did follow KYC and AML laws.  Makes me wonder if the DHS will eventually release those funds.