Topic: [ANN] KRAKEN.COM - US-based Exchange w/ Margin Trading - OPEN BETA - page 4. (Read 14334 times)
June 22, 2013, 12:33:07 PM
are you guys are going to route with other exchanges.. ? (gox)
the reason why i left bitfinex is because the low volume... since they left gox .
cant even trade a good 100btc withoutout massive slippage ..
June 15, 2013, 07:25:38 PM
In light of recent events, we just wanted you guys to know that we’re on the motherfucker. Go back in there, chill out and wait for the cavalry which should be coming directly: https://beta.kraken.com
Target launch for real trading is mid next week. Beta accounts are auto-funded with funny money and will be wiped at launch. Actual deposits/withdrawals are disabled. Address support issues to beta-support@
sleek looking site Target launch for real trading is mid next week. Beta accounts are auto-funded with funny money and will be wiped at launch. Actual deposits/withdrawals are disabled. Address support issues to beta-support@
June 14, 2013, 07:09:44 PM
Great work. You're a credit to the community. It gives me confidence in the future of Bitcoin that there are finally exchanges that are going to do everything by the book and to be frank people don't realise how desperately we need this. A lot of exchanges spin similar lines but when you get down to the nitty gritty of it all, they don't have the licenses.
We've got no shortage of unlicensed exchanges, right? What we really need to take bitcoin to the next level is an exchange that people can trust to act predictably and in accordance with the law when it comes to handling their money. We've spent so much on building the best exchange technically that it'd be a mistake to risk it all over some solvable compliance issues. It's difficult and it's expensive and it takes time but the market is there and somebody's gotta do it.
>btcx
sounds interesting
by when do you think you will start?
sounds interesting
by when do you think you will start?
As soon as we can. I think we'll be able to launch in at least some jurisdictions within 1 month.
June 14, 2013, 12:36:51 PM
In light of Fincen's recent guidance (http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html) kraken.com would clearly fall under the definition of a money service business and more specifically an exchanger. Therefore I ask:
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
You're right! Like MtGox, BitStamp, Coinbase, etc., once launched we'd qualify as a money transmitter in most US states which means we'd require licenses (or an exemption) in each US state in which we have a customer. Most people believe that it's enough to be registered federally, or to locate your business outside the US but, as you've pointed out, if you serve US customers, wherever your business is domiciled, you need to be licensed in the state(s) in which those customers reside. We'll reveal our US coverage at the time of launch. Obviously, it'd be irresponsible to put customer funds at risk of seizure by operating illegally and that is not something we intend to do.
Cool. To clarify, would you have the necessary money transmission licenses before you start serving US customers or are you going to risk it and just start serving US customers with only a money service business registration and no licenses? I'm sure your company has intentions to get the licenses at some stage, the important thing is whether you start accepting US deposits before you get them.
It would be illegal, punishable criminally and greatly reduce our chances of being granted licenses later if we were to begin operating without the necessary US state money transmitter licenses. I think it's great that some businesses are willing to put their necks on the line to serve Bitcoin adoption but it's not a risk we're willing to take for ourselves nor your money. We will not serve those customers we cannot legally serve. For illegal exchanges, you have the three options mentioned above, and many more.
Great work. You're a credit to the community. It gives me confidence in the future of Bitcoin that there are finally exchanges that are going to do everything by the book and to be frank people don't realise how desperately we need this. A lot of exchanges spin similar lines but when you get down to the nitty gritty of it all, they don't have the licenses.
>btcx
sounds interesting
by when do you think you will start?
June 14, 2013, 06:52:31 AM
In light of Fincen's recent guidance (http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html) kraken.com would clearly fall under the definition of a money service business and more specifically an exchanger. Therefore I ask:
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
You're right! Like MtGox, BitStamp, Coinbase, etc., once launched we'd qualify as a money transmitter in most US states which means we'd require licenses (or an exemption) in each US state in which we have a customer. Most people believe that it's enough to be registered federally, or to locate your business outside the US but, as you've pointed out, if you serve US customers, wherever your business is domiciled, you need to be licensed in the state(s) in which those customers reside. We'll reveal our US coverage at the time of launch. Obviously, it'd be irresponsible to put customer funds at risk of seizure by operating illegally and that is not something we intend to do.
Cool. To clarify, would you have the necessary money transmission licenses before you start serving US customers or are you going to risk it and just start serving US customers with only a money service business registration and no licenses? I'm sure your company has intentions to get the licenses at some stage, the important thing is whether you start accepting US deposits before you get them.
It would be illegal, punishable criminally and greatly reduce our chances of being granted licenses later if we were to begin operating without the necessary US state money transmitter licenses. I think it's great that some businesses are willing to put their necks on the line to serve Bitcoin adoption but it's not a risk we're willing to take for ourselves nor your money. We will not serve those customers we cannot legally serve. For illegal exchanges, you have the three options mentioned above, and many more.
Great work. You're a credit to the community. It gives me confidence in the future of Bitcoin that there are finally exchanges that are going to do everything by the book and to be frank people don't realise how desperately we need this. A lot of exchanges spin similar lines but when you get down to the nitty gritty of it all, they don't have the licenses.
June 14, 2013, 06:19:53 AM
In light of Fincen's recent guidance (http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html) kraken.com would clearly fall under the definition of a money service business and more specifically an exchanger. Therefore I ask:
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
You're right! Like MtGox, BitStamp, Coinbase, etc., once launched we'd qualify as a money transmitter in most US states which means we'd require licenses (or an exemption) in each US state in which we have a customer. Most people believe that it's enough to be registered federally, or to locate your business outside the US but, as you've pointed out, if you serve US customers, wherever your business is domiciled, you need to be licensed in the state(s) in which those customers reside. We'll reveal our US coverage at the time of launch. Obviously, it'd be irresponsible to put customer funds at risk of seizure by operating illegally and that is not something we intend to do.
Cool. To clarify, would you have the necessary money transmission licenses before you start serving US customers or are you going to risk it and just start serving US customers with only a money service business registration and no licenses? I'm sure your company has intentions to get the licenses at some stage, the important thing is whether you start accepting US deposits before you get them.
It would be illegal, punishable criminally and greatly reduce our chances of being granted licenses later if we were to begin operating without the necessary US state money transmitter licenses. I think it's great that some businesses are willing to put their necks on the line to serve Bitcoin adoption but it's not a risk we're willing to take for ourselves nor your money. We will not serve those customers we cannot legally serve. For illegal exchanges, you have the three options mentioned above, and many more.
June 14, 2013, 05:53:35 AM
In light of Fincen's recent guidance (http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html) kraken.com would clearly fall under the definition of a money service business and more specifically an exchanger. Therefore I ask:
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
You're right! Like MtGox, BitStamp, Coinbase, etc., once launched we'd qualify as a money transmitter in most US states which means we'd require licenses (or an exemption) in each US state in which we have a customer. Most people believe that it's enough to be registered federally, or to locate your business outside the US but, as you've pointed out, if you serve US customers, wherever your business is domiciled, you need to be licensed in the state(s) in which those customers reside. We'll reveal our US coverage at the time of launch. Obviously, it'd be irresponsible to put customer funds at risk of seizure by operating illegally and that is not something we intend to do.
Cool. To clarify, would you have the necessary money transmission licenses before you start serving US customers or are you going to risk it and just start serving US customers with only a money service business registration and no licenses? I'm sure your company has intentions to get the licenses at some stage, the important thing is whether you start accepting US deposits before you get them.
June 13, 2013, 08:08:46 PM
In light of Fincen's recent guidance (http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html) kraken.com would clearly fall under the definition of a money service business and more specifically an exchanger. Therefore I ask:
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
You're right! Like MtGox, BitStamp, Coinbase, etc., once launched we'd qualify as a money transmitter in most US states which means we'd require licenses (or an exemption) in each US state in which we have a customer. Most people believe that it's enough to be registered federally, or to locate your business outside the US but, as you've pointed out, if you serve US customers, wherever your business is domiciled, you need to be licensed in the state(s) in which those customers reside. We'll reveal our US coverage at the time of launch. Obviously, it'd be irresponsible to put customer funds at risk of seizure by operating illegally and that is not something we intend to do.
June 13, 2013, 04:21:12 PM
In light of Fincen's recent guidance (http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html) kraken.com would clearly fall under the definition of a money service business and more specifically an exchanger. Therefore I ask:
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
1. Is kraken.com registered as a money service business?
2. Does the company have the necessary money transmission licenses for the 48 states of the U.S which require them?
The guidance indicates operating an exchange to those 48 states whilst not meeting 1 and 2 is in violation of US law (even if the exchange is not physically located in the US, but merely serves US customers).
June 08, 2013, 01:41:06 AM
Nice to see that you are back, hope that your site development is running well. By the way, I have not received your response for a very long time, could you please reply back to me? Thanks.
I'm sorry.. maybe I missed the message. Please just send me a PM.
June 08, 2013, 01:34:50 AM
Nice to see that you are back, hope that your site development is running well. By the way, I have not received your response for a very long time, could you please reply back to me? Thanks.
June 08, 2013, 01:32:56 AM
Our general counsel's interview with Adam Levine was posted today! Starts at 12:27: http://letstalkbitcoin.com/post/52402394143/lets-talk-bitcoin-episode-014-in-search-of
June 06, 2013, 11:58:04 PM
How are the margin traders going to be funded? Is the site going to fund them and charge interest or will there be an opportunity for USD investors to lend their funds to traders similar to bitfinex?
Thanks,
Thanks,
We won't be offering a loan market for individual investors like Bitfinex does. Margin fees for a given currency pair at a give time will be the same for all traders.
Any idea of what the rates will be for the traders?
The margin fees will be based on an APR as explained in post #31 above. But not sure what the rates will be at this point. We won't be charging a margin fee initially at launch.
June 06, 2013, 07:05:24 PM
How are the margin traders going to be funded? Is the site going to fund them and charge interest or will there be an opportunity for USD investors to lend their funds to traders similar to bitfinex?
Thanks,
Thanks,
We won't be offering a loan market for individual investors like Bitfinex does. Margin fees for a given currency pair at a give time will be the same for all traders.
Any idea of what the rates will be for the traders?
June 06, 2013, 04:07:14 PM
How are the margin traders going to be funded? Is the site going to fund them and charge interest or will there be an opportunity for USD investors to lend their funds to traders similar to bitfinex?
Thanks,
Thanks,
We won't be offering a loan market for individual investors like Bitfinex does. Margin fees for a given currency pair at a give time will be the same for all traders.
June 06, 2013, 02:27:06 PM
How are the margin traders going to be funded? Is the site going to fund them and charge interest or will there be an opportunity for USD investors to lend their funds to traders similar to bitfinex?
Thanks,
Thanks,
June 04, 2013, 01:07:35 AM
interesting...
the domain is registered in my area...
you guys own this?
http://www.yelp.com/biz/verge-gallery-and-studio-project-sacramento-2
the domain is registered in my area...
you guys own this?
http://www.yelp.com/biz/verge-gallery-and-studio-project-sacramento-2
Yup. I'm the founder of that project, but I live in San Francisco now. http://vergeart.com/about
really nice...
good to know there's someone planning/creating something big in BTC near my area..
if you guys are looking for janitor.. let me know... ill be the cleaning man... wanted to get paid in BTC...
Haha will do. Thanks for the offer
June 03, 2013, 09:17:07 PM
interesting...
the domain is registered in my area...
you guys own this?
http://www.yelp.com/biz/verge-gallery-and-studio-project-sacramento-2
the domain is registered in my area...
you guys own this?
http://www.yelp.com/biz/verge-gallery-and-studio-project-sacramento-2
Yup. I'm the founder of that project, but I live in San Francisco now. http://vergeart.com/about
really nice...
good to know there's someone planning/creating something big in BTC near my area..
if you guys are looking for janitor.. let me know... ill be the cleaning man... wanted to get paid in BTC...
June 03, 2013, 07:40:30 PM
interesting...
the domain is registered in my area...
you guys own this?
http://www.yelp.com/biz/verge-gallery-and-studio-project-sacramento-2
the domain is registered in my area...
you guys own this?
http://www.yelp.com/biz/verge-gallery-and-studio-project-sacramento-2
Yup. I'm the founder of that project, but I live in San Francisco now. http://vergeart.com/about
June 03, 2013, 06:51:56 PM
interesting...
the domain is registered in my area...
you guys own this?
http://www.yelp.com/biz/verge-gallery-and-studio-project-sacramento-2
the domain is registered in my area...
you guys own this?
http://www.yelp.com/biz/verge-gallery-and-studio-project-sacramento-2
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