Esssentially this is going to be an alt-coin "tumbler" to wash stolen coins and push them out as unassociated Bitcoins. I'm sure they're thinking it will be used as a exchange only, but if the only thing you're dealing with is BTC and alt-coins, guess what kind of traffic you're going to get.
Also, being Swiss-based means little, as the moment they're suspected of anything, such as say - allowing certain parties to launder funds through their site, then the long arm of the USA will reach across the sea and give them a slap. You'd think he would've learned from his other fiasco, where he was fined by the SEC - but I guess if there's a "profitunity" Erik just can't help himself.
Just watch, this exchange is going to light up the radar at DHS, FBI, SEC, etc... because of how it is structured.
Also, being Swiss-based means little, as the moment they're suspected of anything, such as say - allowing certain parties to launder funds through their site, then the long arm of the USA will reach across the sea and give them a slap. You'd think he would've learned from his other fiasco, where he was fined by the SEC - but I guess if there's a "profitunity" Erik just can't help himself.
Just watch, this exchange is going to light up the radar at DHS, FBI, SEC, etc... because of how it is structured.
Wow, some people are just focused on negativity. What was it that you read that lead you to that conclusion?
Here's how I envisioned using the services of ShapeShift at PICISI. PICISI will be a crowdfunding site that accepts fiat as well as CC, so when you visit the site and want to support a campaign you could donate any currency you wish, but it a USD, a BTC, or a token with the technology of ShapeShift. Of course the pricing would have to be modified in order to make it financially feasible but that another story.
