2013-06-28 WSJ.com - MtGox Appears to Register with FinCEN

[runam0k]

so more of our money flows to the parasites.

If you're referring to bitcoiners wanting to trade bitcoins for USD and vice versa, then yes.

If there was no need to exchange bitcoins for USD, we wouldn't have a problem.

[samson]

This news was reported by THE Wall Street Journal, not some small specialist crypto currency news site and the surprising thing is - that's kind of normal these days. So normal that nobody commented OMG Bitcoin and MtGox was mentioned in the WSJ.

For any kind of mass adoption to happen some exchanges (the large ones) are going to have to follow all Goverment rules - that's no problem for me and won't be an issue for many others.

If it's a problem for you then there are plenty of alternative exchanges who operate completely outside the 'land of the free' who don't require such draconian legislation compliance so it's still relatively easy to stay anonymous and trade Bitcoin if you want to.

This is Bullish news and I think that if we weren't in the middle of the largest bear market in the history of Bitcoin we would rally on this news.

[aigeezer]

so more of our money flows to the parasites.

If you're referring to bitcoiners wanting to trade bitcoins for USD and vice versa, then yes.

If there was no need to exchange bitcoins for USD, we wouldn't have a problem.

I suppose the need/want ratio will change over time but for now I imagine most people think it is a "need" and their perception makes the reality. I'm not American so it is even more irksome to be affected by this kind of thing.

On the "parasite" front, it strikes me that the FinCen website becomes an invitation to all the other jurisdictions listed in the registration to send Gox a C&D threat/invitation for $5000 (California-style). If so that would be at least a quick quarter-million dollars into various government coffers. (Are these things renewable annually?). Gox can treat it as a cost of doing business with Americans, but the fees will come out of somebody's pocket eventually, perhaps customers globally.

So far the parasites are not killing the host, but it's early days.

Mischief questions: if an American in McMurdo Station, Antarctica does business with Gox, does that put Gox in violation of FinCen's guidelines? How about CIA operatives around the world who might want to use BTC "on business" - should Gox just decline to deal with them in case it might annoy FinCen?

[polarhei]

Good.

[Stephen Gornick]

Incidentally, the corporation that filed this MSB registration is:

MtGOX Inc.

Incorporated 06/11/2013.

File number: 5346105

Accessed from: https://delecorp.delaware.gov/tin/GINameSearch.jsp

[samson]

Incidentally, the corporation that filed this MSB registration is:

MtGOX Inc.

Incorporated 06/11/2013.

File number: 5346105

Accessed from: https://delecorp.delaware.gov/tin/GINameSearch.jsp

It looks like they decided to form a new US company and serve the American people directly.

Coinlab must be pissed off at this.

[kjlimo]

Incidentally, the corporation that filed this MSB registration is:

MtGOX Inc.

Incorporated 06/11/2013.

File number: 5346105

Accessed from: https://delecorp.delaware.gov/tin/GINameSearch.jsp

It looks like they decided to form a new US company and serve the American people directly.

Coinlab must be pissed off at this.

Perhaps they'll sue them

[deadweasel]

Incidentally, the corporation that filed this MSB registration is:

MtGOX Inc.

Incorporated 06/11/2013.

File number: 5346105

Accessed from: https://delecorp.delaware.gov/tin/GINameSearch.jsp

It looks like they decided to form a new US company and serve the American people directly.

Coinlab must be pissed off at this.

Perhaps they'll sue them

don't care as long as they're legit and their new new engine is rockin'.

[samson]

Incidentally, the corporation that filed this MSB registration is:

MtGOX Inc.

Incorporated 06/11/2013.

File number: 5346105

Accessed from: https://delecorp.delaware.gov/tin/GINameSearch.jsp

It looks like they decided to form a new US company and serve the American people directly.

Coinlab must be pissed off at this.

Perhaps they'll sue them

Maybe they already settled.

MtGox Japan and MtGox Inc appear will be two completely separate entities so I doubt you could sue MtGox in over something MtGox Japan did even if it's owned by the same person.

Who's on the board of directors for MtGox Inc ?

[Beta-coiner1]

I wonder if this will satisfy the Dwolla issue?

[samson]

I wonder if this will satisfy the Dwolla issue?

I can't imagine why not.

Is this just an application for a license which will be processed at some point in the future ?

[pembo210]

I really hope this works out. 

[kjlimo]

I wonder if this will satisfy the Dwolla issue?

I can't imagine why not.

Is this just an application for a license which will be processed at some point in the future ?

A few posts up explained this is not an application, but merely a notice of intent to follow and comply with rules/regulations. 

[sergio]

This is a mistake, the government/fed are trying to kill bitcoin based on all the recent actions in the last 60 days.

Well it is a good thing Bitcoin is p2p and does not depend on mtgox.

This will make btc-e.com grow, and before the end of the year they will probably be equal in size to mtgox.

[Severian]

the government/fed are trying to kill bitcoin based on all the recent actions in the last 60 days.

And there's a large number of Bitcoiners willing to help the government in the process.

There are two choices with government: give in and let them tax and kill you or dig in and fight for your rights. There's no middle ground.