Withdraw bitcoin from mtgox, get "$1000" error

[yoyoceramic]

Hi everyone,

I am a n00b here, so thanks for being patient.  I tried to withdraw 1BTC from my mtgox account this afternoon and I run into the error:  To comply with US regulations you are only allowed to withdraw a maximum of $1000 within a 24 hour period. Please try your withdraw tomorrow.

I am not quite sure why I would receive this message if I am withdrawing bitcoins.  I assume I am missing something here....  Thanks

[1715266863]

1715266863

[1715266863]

1715266863

[warweed]

Have you moved more the a 1000 out of mtgox into either a usd acct or into liberty reserve in the last 24 ? And if not contact mark at info@mtgox.com could be a bug

[ribuck]

The MtGox withdrawal limit applies equally to USD and BTC. So if you are withdrawing BTC, the maximum you can take out is $1000 worth per day (less than 200 BTC at current rates).

[bytemaster]

What regulation is he complying with?

[Cryptoman]

What regulation is he complying with?

U.S. anti-money-laundering, know-your-customer regulations.  Since they don't "know" him, they have to assume he is a U.S. national and subject to the regulations.  Did you want a reference to the specific U.S. federal code?

[chungenhung]

yes, i for one would like to see the code.