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Author Topic: 2013-06-13 Latest from FinCEN  (Read 7030 times)
MSantori
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June 17, 2013, 03:02:05 PM
 #121

Just found this thread.... you guys know that there's a legal forum right?!  Tongue

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
BCB (OP)
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June 17, 2013, 03:03:40 PM
 #122

I just post and let the mod's move if necessary.

As you can see the sub-forums get MUCH LESS traffic as I just found your thread and you just found this one.

Micky25
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June 17, 2013, 03:14:00 PM
 #123

Just found this thread.... you guys know that there's a legal forum right?!  Tongue

Yes, thank you. Do you know, that there is the possibility to buy ad space?
https://bitcointalk.org/index.php?topic=229054.msg2411569#msg2411569
MSantori
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June 17, 2013, 03:17:32 PM
 #124

I just post and let the mod's move if necessary.

As you can see the sub-forums get MUCH LESS traffic as I just found your thread and you just found this one.



I'm mostly just bitter that I post in the less-popular forum  Angry

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
BCB (OP)
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June 17, 2013, 03:19:29 PM
 #125

I just post and let the mod's move if necessary.

As you can see the sub-forums get MUCH LESS traffic as I just found your thread and you just found this one.



I'm mostly just bitter that I post in the less-popular forum  Angry

Me too!

There was a lot of GREAT info that I totally missed!
Fidgets
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June 17, 2013, 03:20:31 PM
 #126

What is unclear to me is whether they are talking about regulating the exchanges or regulating every single individual who uses an exchange.  Seems uncomfortably vague to me.  What happens if every Joe who trades a single bitcoin for cash becomes "an agent"?

I freely admit that I'm not well-versed in financial legalities, so enlightenment is welcome...
MSantori
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June 17, 2013, 03:22:24 PM
 #127

Just found this thread.... you guys know that there's a legal forum right?!  Tongue

Yes, thank you. Do you know, that there is the possibility to buy ad space?
https://bitcointalk.org/index.php?topic=229054.msg2411569#msg2411569

You think I should advertise?

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
BCB (OP)
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June 17, 2013, 03:28:08 PM
 #128

Just found this thread.... you guys know that there's a legal forum right?!  Tongue

Yes, thank you. Do you know, that there is the possibility to buy ad space?
https://bitcointalk.org/index.php?topic=229054.msg2411569#msg2411569

You think I should advertise?

NO. Adds are spammy and SCAMMY.

You knowledgeable posts are all you need to advertise. 
BCB (OP)
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June 17, 2013, 03:52:49 PM
Last edit: June 17, 2013, 07:37:03 PM by BCB
 #129

What is unclear to me is whether they are talking about regulating the exchanges or regulating every single individual who uses an exchange.  Seems uncomfortably vague to me.  What happens if every Joe who trades a single bitcoin for cash becomes "an agent"?

I freely admit that I'm not well-versed in financial legalities, so enlightenment is welcome...


Fidgets,  Unfortunately that is currently the case.  Every Joe who trades a bitcoin for cash become a MSB that is probably required to get a MT license in every State in which he has clients.

So what started out as a hobby or small business just turned into a $7M venture.

It has been discussed here and other places, that bitcoiners need to come together and engage policy makers.  I've heard this is happening with a group in Washington and I know that Bitcoin Foundation (Peter Vannesses's club) is making overtures in that area, however I've yet to hear or read any official info.

Gavin and Patrick Murick( attorney for Bitcoin Foundation) spoke at a panel in Washington last week.

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/06/17/can-bitcoin-make-peace-with-washington/
Micky25
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June 17, 2013, 05:46:59 PM
 #130

You think I should advertise?
I started to get a feeble impression you were doing this already

To be sure, that is a question I can sometimes answer for clients, but it is a very, very fact-based inquiry and takes many hours of research.  Let me know if you're interested in that.
That said, it looks to me like you are flying solo.  Most people who do this don't fly solo.  They do it with legal counsel.  Without a knowledgeable lawyer at your side, you risk rocking the boat in the wrong direction.
One of the services I can provide (Spam Alert!) is analyzing your business closely under any or all of the states and determining whether you really do require licensing.
Obviously, to determine whether your business in particular needs to register in any state, I'd need to know more about your business and then take a close look at the state's regulations to apply the latter to the former.

But reading through your posts again, I saw a lot of useful information too. So never mind, I'm just a cheeky monkey Grin
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