trading out of Hong Kong but with local presences in Australia, New Zealand, Bali, Israel, United Kingdom, United States, Canada, Bolivia and most of the EU
So what does "presences in.." mean? Local banks and not people? And why not just buy your 50BTC on the existing exchanges?
Hey Haploid23, means we've enquired with our legal team if we are considered merchants or currency traders in that jurisdiction. We take the local laws very seriously. Right now, we have applications in for some of the larger jurisdictions that will be fulfilled by 11/12/13 but we choose not to make the same mistakes that some of the other larger players have made (getting fined for each transaction in the USA for example)
Our legal team has been keeping a close watch on the legal goings on worldwide and we adhere to their recommendations absolutely.
PS we can buy from existing exchanges but seeing as we are an exchange why would we give a competitor any advantage that wasn't considered beforehand?
PS to all those that have contacted us, sincerely thank you. Our preference is local clients where we do not have to travel and incur costs for our shareholders.
Warm regards
BitBot
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