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Author Topic: Why is no authority after btc-e.com?  (Read 4092 times)
niceWoman25
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December 28, 2014, 03:35:33 PM
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We know that btc-e.com is a major bitcoin exchange and lots of fiat money is involved. The operator of this exchange themself are most likely evading tax.

I have nothing against btc-e.com.. In fact, I really like btce-com!

BUT, I am wondering, why is no authority chasing them? Obviously they are violating lots of USA and EU laws. Laws about money laundering, no ID verification, and more. Probably some people already tried unsuccessfuly to sue them.

They do use cloudflare.com as a CDN, which is a US-company, so at least the US-authorities could easily track ithem down, and find out where they are hosted, and by whom! We know about NSA, the snowden stories, that chasing them down by pressing just one button could easily be done.

They are even using google analytics on their site!!! So that means, a lot of data of their customers gets sent directly to NSA.
So my question is, WHY is no authority trying to find out who they are and shut the website down???

Is it because the operators dont have US-citizenship? Or because its not hosted on US soil? I am really wondering...
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Goat says: "Bitcoin is NOT Illegal in Thailand. There is no law against Bitcoin in Thailand!"
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SirChiko
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December 28, 2014, 10:13:26 PM
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I've seen few posts that "few shady russians run it" but i know wich of this is true, and yes i have to dissappoint you, US laws don't apply to whole world, surprise?  Roll Eyes

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saddampbuh
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December 30, 2014, 07:32:19 PM
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their bank does require id

Be radical, have principles, be absolute, be that which the bourgeoisie calls an extremist: give yourself without counting or calculating, don't accept what they call ‘the reality of life' and act in such a way that you won't be accepted by that kind of ‘life', never abandon the principle of struggle.
Zawamiya
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December 31, 2014, 12:57:02 PM
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it is a russia based exchange that follow rules of russian govt only
and about US Laws, it didnot apply to whole world they are just US laws not universal laws
AnonBitCoiner
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January 02, 2015, 03:07:34 AM
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I haven't used btc-e.com but isn't it somewhat similar to localbitcoins.com?

cbeast
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January 02, 2015, 03:51:42 AM
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it is a russia based exchange that follow rules of russian govt only
and about US Laws, it didnot apply to whole world they are just US laws not universal laws
That and the owners are allegedly anonymous. I'm not sure how they get away with that.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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January 02, 2015, 03:02:52 PM
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I haven't used btc-e.com but isn't it somewhat similar to localbitcoins.com?

No, it's a normal exchange with BUY / SELL ORDERS etc. - you can cash out your Bitcoins to Fiat and buy Bitcoins with your Fiat. They are a little bit shady but in the business for years now!
AnonBitCoiner
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January 03, 2015, 06:34:03 AM
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I haven't used btc-e.com but isn't it somewhat similar to localbitcoins.com?

No, it's a normal exchange with BUY / SELL ORDERS etc. - you can cash out your Bitcoins to Fiat and buy Bitcoins with your Fiat. They are a little bit shady but in the business for years now!

How would one explain the sudden increase in US $$$ to the tax collectors??

little_chrisna
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January 03, 2015, 07:10:23 AM
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No problem with btce so far. It is good trading site, at least, for myself.
The00Dustin
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January 03, 2015, 11:43:09 AM
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I haven't used btc-e.com but isn't it somewhat similar to localbitcoins.com?
No, it's a normal exchange with BUY / SELL ORDERS etc. - you can cash out your Bitcoins to Fiat and buy Bitcoins with your Fiat. They are a little bit shady but in the business for years now!
How would one explain the sudden increase in US $$$ to the tax collectors??
Exactly how the IRS said to?
http://www.irs.gov/pub/irs-drop/n-14-21.pdf
AnonBitCoiner
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January 04, 2015, 05:40:31 AM
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I haven't used btc-e.com but isn't it somewhat similar to localbitcoins.com?
No, it's a normal exchange with BUY / SELL ORDERS etc. - you can cash out your Bitcoins to Fiat and buy Bitcoins with your Fiat. They are a little bit shady but in the business for years now!
How would one explain the sudden increase in US $$$ to the tax collectors??
Exactly how the IRS said to?
http://www.irs.gov/pub/irs-drop/n-14-21.pdf

Ahh, so there'd be no problem, even with the allegations that the btc-e is a little shady? Iunno how in-depth the IRS would analyze everything

I haven't used btc-e.com but isn't it somewhat similar to localbitcoins.com?

No, it's a normal exchange with BUY / SELL ORDERS etc. - you can cash out your Bitcoins to Fiat and buy Bitcoins with your Fiat. They are a little bit shady but in the business for years now!

The00Dustin
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January 04, 2015, 11:04:04 AM
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How would one explain the sudden increase in US $$$ to the tax collectors??
Exactly how the IRS said to?
http://www.irs.gov/pub/irs-drop/n-14-21.pdf
Ahh, so there'd be no problem, even with the allegations that the btc-e is a little shady? Iunno how in-depth the IRS would analyze everything
The IRS and FinCen are two separate entities.  Whether or not you are breaking any laws, and whether or not the IRS would even know and/or report that you are breaking any laws is completely separate from whether or not you are properly paying taxes on your income.  I have heard it suggested that the IRS doesn't care if your money came from drug deals as long as they get their cut, but I don't know whether or not that is true.  Moreover, as a layman, I can't really offer financial or legal advice, but the answer to that question (whether or not you are breaking any laws) might be in this document, and it might depend whether you are trading as an individual or a business:
http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R001.pdf
I don't know whether or not what you are doing business as an individual or a company has any bearing on whether or not you can get in any trouble for doing business with a company that should be registered as an MSB, but that is a question for a lawyer.  However, the allegations in this thread don't lean toward money laundering, they lean toward tax evasion.  That having been said, I suppose can tell you that I am not aware of any laws that would require any bitcoin exchange to report anything to the IRS (I do know that securities brokers only recently had to start reporting the various types of securities over the last 3-5 years, and bitcoin isn't a security), so it may be that US citizens using BTC-E are in a position to evade taxes while BTC-E has nothing to do with it (IOW, perhaps the same US citizens could do the same thing on any other exchange, even if it was based on US soil).  Regardless, just because I am not aware of a law doesn't mean the law doesn't exist, so discussion with an accountant and/or lawyer may be a good idea here as well.
SirChiko
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January 04, 2015, 11:39:52 AM
 #13

it is a russia based exchange that follow rules of russian govt only
and about US Laws, it didnot apply to whole world they are just US laws not universal laws
That and the owners are allegedly anonymous. I'm not sure how they get away with that.
Well it's really weird mut maybe russian goverment just doesn't notice it? Lol.

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BitCoinNutJob
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January 04, 2015, 02:24:54 PM
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They probably are looking at BTC-e & other trading sites, with online poker one day there was a problem out of the blue, the same might happen.  Or maybe they will all apply for a bit license.
Lethn
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January 04, 2015, 02:33:35 PM
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As others have said, they can't invade or piss off countries like Russia and China, so if you're planning on pissing off the U.S that's the way to go usually, America likes to talk about how tough they are but when it comes to trying to take on a country that has an air force at it's disposal they back down immediately.
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January 04, 2015, 09:38:19 PM
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They blocked out russia for trading in recent months which seemed like a good move for the safety of ROW customer funds.
mistercoin
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January 07, 2015, 03:39:16 PM
 #17

In case you have not noticed. Russia is a haven void of the US iron fist..for the most part.

Gumbork
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January 09, 2015, 03:37:51 AM
 #18

Hackers stay away from btce b/c they dont want to fall in the meatwagon from the Russian bosses.


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moonspeel
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January 09, 2015, 04:23:36 PM
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I've heard that owners of btc-e are Ukrainians, and developers are Russian. Not sure is it true, perhaps just a rumors
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January 12, 2015, 11:39:32 PM
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Investigations can take years.
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