Bitstamp BLOCKs withdrawals to verified users

[5flags]

I'm baffled by this as Bitstamp aren't widely known to pull these kind of bullshit manoeuvres but there have been complaints about this sort of thing with people who are from places like Slovakia, what country are you from?

Perhaps they should ask no questions, then customer coins can get stolen and the Bitstamp bank account can get seized - and we can all complain we got gox'd.

My 30 day volume is measured in millions. I withdraw all the time and have never been asked any questions.

[frito]

I'm baffled by this as Bitstamp aren't widely known to pull these kind of bullshit manoeuvres but there have been complaints about this sort of thing with people who are from places like Slovakia, what country are you from?

Bitstamp is on balkan former Yugoslavia.

[5flags]

I'm baffled by this as Bitstamp aren't widely known to pull these kind of bullshit manoeuvres but there have been complaints about this sort of thing with people who are from places like Slovakia, what country are you from?

Bitstamp is on balkan former Yugoslavia.

Plenty of people get confused between Slovenia and Slovakia

Both beautiful places by the way.

[MrPiggles]

My 30 day volume is measured in millions. I withdraw all the time and have never been asked any questions.

yeah but that doesn't mean they can't pull bullshit moves on other people.

Their support is terrible.

I admit I used a fake name when I set it up, so I asked for problems, but now it's been months of me being ignored.

[5flags]

Their support is terrible.

I admit I used a fake name when I set it up, so I asked for problems, but now it's been months of me being ignored.

With the greatest of respect, you're an idiot.

They HAVE to comply with KYC and AML laws. If they don't, their business and our funds are at risk. How do you NOT get that. This isn't an unregulated alt exchange - Bitstamp interfaces with the fiat banking system, if they don't play by the fiat banking system's rules, they are finished.

How they didn't terminate your account and ban you is beyond me.

[MrPiggles]

With the greatest of respect, you're an idiot.

They HAVE to comply with KYC and AML laws. If they don't, their business and our funds are at risk. How do you NOT get that. This isn't an unregulated alt exchange - Bitstamp interfaces with the fiat banking system, if they don't play by the fiat banking system's rules, they are finished.

How they didn't terminate your account and ban you is beyond me.

Lol "professional anarchist" telling me I have to play by the rules.

[5flags]

Lol "professional anarchist" telling me I have to play by the rules.

If you want to interface with the fiat banking system, you have absolutely no choice.

If you don't want to interface with banks, go on to LocalBitcoins and buy for cash.

[Shawshank]

I was asked those same questions one month ago. After answering them, I withdrew my funds without issues.

I have been honest with all the information I provided to Bitstamp, but for whatever reason, I cannot withdraw bitcoin funds at the moment.

[bananas]

This.

Assuming this is true, it's kind of weird, as it does not look remotely similar to KYC questionnaires handed out by traditional banks in the euro area. Of course some of the questions would have to be different, but a bank is not allowed to ask a customer where his/her funds come from. In some countries, tax authorities have the power to go through banking records and ask this very question even in the absence of a subpoena; what banks can do is transmit information on suspicious transfers to the proper government offices, but they are not directly interacting with the client on the matter of where the money comes from.

I would be more worried about malicious use of this data on the part of Bitstamp than anything.

The request about mining equipment specification baffles me entirely.

[Shawshank]

This.

Assuming this is true, it's kind of weird, as it does not look remotely similar to KYC questionnaires handed out by traditional banks in the euro area. Of course some of the questions would have to be different, but a bank is not allowed to ask a customer where his/her funds come from. In some countries, tax authorities have the power to go through banking records and ask this very question even in the absence of a subpoena; what banks can do is transmit information on suspicious transfers to the proper government offices, but they are not directly interacting with the client on the matter of where the money comes from.

I would be more worried about malicious use of this data on the part of Bitstamp than anything.

The request about mining equipment specification baffles me entirely.

I am quite convinced Bitstamp is not using this information maliciously. They have always provided an excellent service, very professional.

[crazy_rabbit]

With the greatest of respect, you're an idiot.

They HAVE to comply with KYC and AML laws. If they don't, their business and our funds are at risk. How do you NOT get that. This isn't an unregulated alt exchange - Bitstamp interfaces with the fiat banking system, if they don't play by the fiat banking system's rules, they are finished.

How they didn't terminate your account and ban you is beyond me.

Lol "professional anarchist" telling me I have to play by the rules.

He's right though and depending how much money you had on the exchange, you might have committed a financial crime by lying about your identity. Using a fake name and withdrawing/depositing money under it, IS money laundering, and what you have done, a crime.

Bitstamps best course of action at this point is to actually just seize your funds and block your account. What they do with that money they will have to let lawyers decide at some later date, but most likely they will just let it sit on their balance for years before attempting to do anything with it. You've committed a crime and attempted to make them your accomplice. Until they have better guidance from the government on what to do, the best thing is to do nothing- including not responding to your support emails (as they could say something that would get them in trouble later on). They will probably pass on your details to whichever financial enforcement agency is responsible and let them decide to prosecute you or not at their leisure.

Either way, you've essentially forfeited your money in the near-term.

[crazy_rabbit]

I'm baffled by this as Bitstamp aren't widely known to pull these kind of bullshit manoeuvres but there have been complaints about this sort of thing with people who are from places like Slovakia, what country are you from?

Bitstamp is on balkan former Yugoslavia.

It's also in the UK. I am unsure of which legal jurisdiction they are technically in.

[5flags]

"a bank is not allowed to ask a customer where his/her funds come from."

That's simply not the case.

"The request about mining equipment specification baffles me entirely."

There's another exchange I use...possibly MintPal which doesn't allow deposits from mining pools. I'm sure this is a technical issue to do with freshly mined coins.

[bananas]

Absolutely no FUD intended and no paranoia, but it is looking live they are not solvent either. Some people were warning about Gox for a VERY long time and nobody took seriously. The behaviour of Bitstamp is getting similar to Gox's long time ago.

Many people are reporting withdrawal problems.
And that supposed KYC/AML is absolute BS.

[5flags]

What crazy_rabbit said +1

[MrPiggles]

He's right though and depending how much money you had on the exchange, you might have committed a financial crime by lying about your identity. Using a fake name and withdrawing/depositing money under it, IS money laundering, and what you have done, a crime.
 

Either way, you've essentially forfeited your money in the near-term.

I withdrew it to accounts with no name on.

So I bought/sold btc in a fake name, and deposited them to accounts with no name.

In what country is using a fake name to sell bitcoins illegal?

What law was broken by registering on a slovenian site with a fake name?

[5flags]

but it is looking live they are not solvent either.

FUD. Ignorance. Wilful stupidity. Call it what you want.

If your bank froze your funds on suspicion of potentially criminal activity, would you suspect they were insolvent? Engage the grey matter please.

[V4Vendettas]

"a bank is not allowed to ask a customer where his/her funds come from."

That's simply not the case.

"The request about mining equipment specification baffles me entirely."

There's another exchange I use...possibly MintPal which doesn't allow deposits from mining pools. I'm sure this is a technical issue to do with freshly mined coins.

My banks is always asking where my money comes from and what I am doing with it. Personally I find it bloody rude of them and always answer with "magic internet moneyz" and they dont stop me so ..shrugs.

[5flags]

My banks is always asking where my money comes from and what I am doing with it. Personally I find it bloody rude of them and always answer with "magic internet moneyz" and they dont stop me so ..shrugs.

I've had my account frozen once for trading on LocalBitcoins when someone used a stolen bank account to buy coins from me. When the fraud guy asked me why there were deposits from dozens of different people each week, I was very tempted to say that "I was laundering money so I could more easily buy drugs, guns and child pornography for a terrorist training camp that I run in Afghanistan".

Tempted. But I resisted. Probably wisely.

[bananas]

but it is looking live they are not solvent either.

FUD. Ignorance. Wilful stupidity. Call it what you want.

If your bank froze your funds on suspicion of potentially criminal activity, would you suspect they were insolvent? Engage the grey matter please.

It just wont ever happen to me or anyone, banks are not allowed to do that, only authorities can.