Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!!

[Fattcatt]

【IMPORTANT NOTICE】

Hello everyone,

It is with painful regret to announce,
the closure of Satori Coin sales as of
immediate effect. The reason is as
per below. Basically, we ran out of
time to raise our AML/KYC standard
according to the level in which Japan's
Financial Service Agency demanded.

-------------------------
On April 23, 2018, Raimu Inc. must
terminate the virtual currency
exchange business. Fulfillment of
obligation to bear in connection with
the exchange of virtual currency,
conducted as virtual currency
exchange business prescribed in
Article 63-20, paragraph 5 of the
law concerning money settlement
has been completed. There is no
customer property that needs to
be returned or relocated to the
customer. This is a public notice
pursuant to the provisions of
Article 63-20, paragraph 3 of
the Act on Financial Settlement.
-------------------------

I want to thank everyone around
the globe for supporting Satori
Coin.  This project was intended
to accelerate the spreading of
the power of Bitcoin, the inherent
human right to freely exchange
and hodl "our" wealth, at will.
We will however, continue our
mission.  Our website will stay
live and cater to any issues and
concerns raised toward Satori
Coin users.

We have recently commissioned
another documentary film,
"Bitcoin:  Beyond The Bubble".
Simultaneously, we are working
on vending machines that can
accept Bitcoin / Bitcoin Cash.
Their debut is imminent.  More
projects are in line.

It has been an honor and a
privilege to have been associated
with so many passionate
individuals in the crypto currency
space and we want to continue
this into the future.  Satori Coin
will be absent for a while, but
only temporarily.  It will take
many months, but we will make
another attempt to obtain the
license.

"I'll be back".

March 22, 2018
Moto Kan
Director
Satori Coin Team
5769-9 Sumiyoshi
Suzuka, Mie 513-0825
Japan
Tel +81-593-78-6648
info@satoricoin.jp
https://nam04.safelinks.protection.outlook.com/?url=https%3A%2F%2Fsatoricoin.jp%2Fen%2Fsales.php&data=02%7C01%7C%7C5f6528ba647b40ec2bb508d58fb860da%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C636572944415455581&sdata=dO1wMr%2Bk%2BW7rgvzr%2FjzL23fSigwYShpEF77W0%2BX2FMc%3D&reserved=0

[1715693756]

1715693756

[krogothmanhattan]

Tooo bad...these were great chips IMO.

Makes me want to HODL mine even more 

[tothemoonsands]

Well seemingly, they will be back in some fashion or sorts once they obtain the proper licenss/permits as per the location/government.

And also, they have just a month before they actually have to cease "sales".... so who know, maybe we them to make 1 last roll for everyone... lol

Unfortunately it seems they have chosen to halt sales immediately rather than wait until their April deadline as they stated: "It is with painful regret to announce, the closure of Satori Coin sales as of immediate effect."

I am optimistic that they will come back because of Moto's words, but my gut instinct tells me that it will be hard for them to start up again with all of the proper licensing which probably costs hundreds of thousands if not millions to get.

[JUPITYR]

Yeah, but haven't they said all of this before?  Something tells me they will be back soon. 

[krogothmanhattan]

Yeah, but haven't they said all of this before?  Something tells me they will be back soon.  

They did say this before, but if I remember correctly, it had to do with network/transaction fees and it being cost effective to load the chips....
Now that bitcoin tx fees have come back down to cents, it would now be feasible to load them again if that was the case.

Right on MJ...that was what Moto told me in his email a few weeks back. Now it must be a more serious matter that caused them to shutdown

[chronicsky]

Ah thats a big bunmer to see them go.

Yeah, but haven't they said all of this before?  Something tells me they will be back soon. 

They did say this before, but if I remember correctly, it had to do with network/transaction fees and it being cost effective to load the chips....
Now that bitcoin tx fees have come back down to cents, it would now be feasible to load them again if that was the case.

Right on MJ...that was what Moto told me in his email a few weeks back. Now it must be a more serious matter that caused them to shutdown

Yeah unlike last time, its law this time..
And when he says "I'll be back"
He might mean about the other stuff he is working on ?
Regardless of that, whatever he comes back with am sur3 will be good

~Sky

[bavicrypto]

That’s very unfortunate. I was really looking forward to their next release, which unfortunately never came out. Well, in the end that  will make their orange, shiny, chips even more collectable than they were already before

[monkeynuts]

I hope Satori dont stop completely, and it is just a break

There is definately a gap in the market (and demand) for low denom, none metal, high quality tokens

[BitcoinNewsMagazine]

Same here but I would not hold my breath. They appear to be moving on to vending machines that can accept Bitcoin.

[wheelz1200]

I hope Satori dont stop completely, and it is just a break

There is definately a gap in the market (and demand) for low denom, none metal, high quality tokens

Agreed, i thought they were a solid option.  Liked the ability to get rolls of loaded coins at a cheap price.  Great entry for new people too, casascius, etc are too much for new entrants.

[Gatorelf]

Same here but I would not hold my breath. They appear to be moving on to vending machines that can accept Bitcoin.

yep I think originally any way the idea was vending machines throughout Japan vending .50 cent worth of btc for fiat filling a quick demand for not only a physical coin but just owning btc. So now days as we know things changed rapidly and as a business they have to evolve to change. Probably have many more ideas such as different colors for different years in the future plus denomination change.  Might even see a MONA satori chip in future vending, wouldn't that be cool ! 

One thing is for sure, where there is a demand someone will meet it with supply   I love the name Satori and hope they do continue

[JUPITYR]

Interestingly enough Japan has been one of the most "crypto-friendly" governments to date.  So bit of an odd move by them recently.  We've seen other countries go back and forth on their stance in the past.  Hopefully Japan will do the same and take the shackles off to allow Satori to continue to produce these fine tokens. 

[Gatorelf]

Interestingly enough Japan has been one of the most "crypto-friendly" governments to date.  So bit of an odd move by them recently.  We've seen other countries go back and forth on their stance in the past.  Hopefully Japan will do the same and take the shackles off to allow Satori to continue to produce these fine tokens. 

yes    JFS must follow current regulations and I think its just a matter of these changing in time to benefit Satori and the entire financial structure.  Japan is so cool I just want to live there a while lol

[BitcoinNewsMagazine]

Will have to be another country than China or Japan. BTCC already gone and Satori speculatively shutting down due to high cost of meeting Japan's AML/KYC requirements. What are the bitcoin friendly countries with the manufacturing capability for chips already in place? There is a void to be filled some entrepreneur may step up to the challenge.

[krogothmanhattan]

Will have to be another country than China or Japan. BTCC already gone and Satori speculatively shutting down due to high cost of meeting Japan's AML/KYC requirements. What are the bitcoin friendly countries with the manufacturing capability for chips already in place? There is a void to be filled some entrepreneur may step up to the challenge.

Could be done in the USA, but I think most people don't want to deal with the headaches and red tape of getting MSB licensing in 50 states+ other countries.
And manufacturing could be done anywhere/any country... just ship the chips over and they could be assembled/loaded here in USA

Load it with Roocoin! 

[Gatorelf]

Will have to be another country than China or Japan. BTCC already gone and Satori speculatively shutting down due to high cost of meeting Japan's AML/KYC requirements. What are the bitcoin friendly countries with the manufacturing capability for chips already in place? There is a void to be filled some entrepreneur may step up to the challenge.

Australia may get on board they seem to be pretty crypto friendly with the government funding some projects.

also Satori isn't the only one under the watchful eye of the FSA

Binance has received a formal warning from Japan’s Financial Services Agency (FSA) for operating in the country without registering with the regulatory agency as a cryptocurrency trading platform.  In a letter dated March 23 and addressed to Binance CEO Changpeng Zhao, the FSA warned the exchange operator to cease operating in Japan without a license.  moving to Malta I hear

[krogothmanhattan]

Will have to be another country than China or Japan. BTCC already gone and Satori speculatively shutting down due to high cost of meeting Japan's AML/KYC requirements. What are the bitcoin friendly countries with the manufacturing capability for chips already in place? There is a void to be filled some entrepreneur may step up to the challenge.

Australia may get on board they seem to be pretty crypto friendly with the government funding some projects.

also Satori isn't the only one under the watchful eye of the FSA

Binance has received a formal warning from Japan’s Financial Services Agency (FSA) for operating in the country without registering with the regulatory agency as a cryptocurrency trading platform.  In a letter dated March 23 and addressed to Binance CEO Changpeng Zhao, the FSA warned the exchange operator to cease operating in Japan without a license.  moving to Malta I hear

They are welcome with open arms to MALTA as per the following


http://fortune.com/2018/03/23/binance-bitcoin-exchange-cryptocurrency-malta/

[Ticked]

Lads, threads like this is the real news, sincerely, thank you.

[AT101ET]

Not entirely sure on the regulation but pretty sure something like this could be operated in the UK rather easily.

[Gatorelf]

Lads, threads like this is the real news, sincerely, thank you.

haha well college football is over for now sooooo   bitcointalk