Topic: are UK companies subject to USA laws? (Read 1853 times)

how? its a mayor economy, if it disappears, the world economy including your beloved china will crush,

all of the world will sense china'S nazi ambition and will start protecting themselves from it, and in that process they will call for the USA again.

Actually, we do need to carry about the "laws", or rather wishes, of everyone in the world.  Just because somebody was born on the other side of a fence doesn't mean they can't come across and slap you upside the head. 

Thanks for the info!

I have booked myself in with a Solicitor in the UK, i will see what they think.....
I am hoping that if i only offer "virtual shares" that will not carry the same rights that "normal shares" carry (i will of course make this clear) that i may be exempt from many of the regulations.
I am not selling shares in order to fund my business (i can and will do this on my own), i intend it to be more on a co-op basis, so that the users of the site can have a vested interest and/or so that i am not being greedy and keeping it all for myself. As after all it is the users that will "make" the site should it work as i hope (i also think this will keep things in the same spirit that bitcoin does).
Of course my plan may not work, but i think it may be just what bitcoin needs, and would love to see it work, even if i make nothing from it!

Ford. What you are describing sounds like a private placement or a public offering.
Both are regulated here in the US and would have similar regulation in the UK unless you are able to secure funds from your personal assets or a loan from family or friends.

http://en.wikipedia.org/wiki/Private_placement
http://onswipe.investopedia.com/investopedia/#!/entry/,52292bfdda27f5d9d017f9e2

I'm not suggesting you are planning to conduct an illicit business. The Securities and Exchange Commission was investigating Trendon Shavers for selling "unregistered bitcoin securities" before they determined it was actually an Ponzi  scheme.

Once you raise money for your business what type of business will you conduct. That will also determine other regulations your business activity may fall under.

Again, you should not care about abiding laws of every country in the world, it is absurdly! Following this logic, you should cease all business operations because private entrepreneurship may be illegal entirely in some countries like Cuba and North Korea, so Kim Jong-un may ask your extradition

Hello

Thanks for the advice.

I will, prior to launch, seek "proper" UK legal advice, although i don't think (nor intend) to be an illegal business!
(just for the record, I AM NOT PLANNING ANYTHING LIKE THE SILK ROAD! i am an honest business man!)

Most of what i intend will be perfectly legal in all countries with no need for any regulations/registrations, my only concern is that if i offer Shares in my business/website, will there be any regulations i need to abide by (firstly in the UK, and secondly in other countries. And hopefully these regulations will not be vastly different in the US). where required i will abide by these regulations.

Best Regards
Ford

Ross Ubrecht is in custody having been accused of being Dread Pirate Roberts (DPR) and responsible for the acts outlined in the New York and Deleware complaints.

Trendon Shavers (pirateat40) is not in custody (yet) as current there are only civil charges against him (although he was recently arrested for beating his wife).  Times get tough when the money runs out and the law is on your tail.
http://www.justmugshots.com/texas/collin-county/18816833

At least Pirateat40 is in jail because he actually committed real crime (fraud). (And he was always in the US to begin with, likewise the alleged DPR.)

I don't know about UK, but most countries will not extradite from their territory if an act committed is not an offense in this country. For example, if Germany resident was charged in the Saudi Arabia for drinking alcohol or out-marriage sex and runned back to Germany, he will not be extradited.

So, you should abide laws of your own country. If you travel to the U.S., don't hope that IP blocking will save you from prosecution (FBI could just visit your service through proxy and collect enough evidence against you).

Sorry for being off topic, but I don't like the USA role to be dominant in relation to the USSR/Russia history

Despite of the fact that the Cold War was really consuming many resources, the USSR collapsed due to the centrally controlled, planned economy. Although we have a market driven economy since 1991, the other bad thing is still goes on: we sell much more raw resources (oil, wood, e.t.c.) than commodities.

Ford. Please don't rely on on the internet for your legal advice. If you are really starting a proper business please consult an attorney who specialized in the area of your planned business. Unfortunately this is usually not cheap. Also you seem to be embarking on a financial services type of business. Again this area of business is highly regulated, both in the jurisdiction in which you operate (UK) and in the jurisdiction in which you hope to serve customers/clients (US/UK).  

The US and the UK have high levels of cooperation in most areas of law and regulation so it is not likely that you would be beyond the reach of the US Government if your activity is unlicensed or unregulated and if the level and volume of your activity warranted action on behalf of any enforcement agency.

There is a reason other similar businesses are pulling out of the US. The risks of operating outside of regulation and/or the cost of becoming compliant with all the required laws and regulations far out weight the benefits for a small start up company. This risks include both civil (monetary fines) and criminal (loss of personal freedom) penalties.

You should maybe do a little research about the past bitcoin businesses that may have been great ideas but went wrong badly for either the operators, the users or both.

Extreme cases include the recent Silk Road seizure, and the civil complaint against Trendon Shavers also known as pirateat40 and his Bitcoin Savings and Trust. Nefario's Bitcoin Stock Exchange was another Disaster. Then there is Mybitcoin, Bitcoinica, Bitfoor and the list goes on. All of the cases are well documented and discussed within this forum, reddit and else where around the internet.

There are plenty of successful bitcoin companies and some very interesting (and well funded) startup on the horizon. Unfortunately , for the most part, gone are the days when any coder with a hosted service could spin up a multimillion dollar bitcoin business.
Good luck.

In theory the answer is no. In practise if the u.s wants you badly they either check first with their good friends in the u.k and if not possible they'll just kidnap you like one can read throughout history.

Hehe.... that a law abiding UK citizen has to move to Cuba, just so he can set up his new legal UK business and not be persecuted by a country he has never been to (and has no ill intent towards), is a little extreme....  

Maybe if the US government it so worried about its citizens using websites that it does not approve of, rather than forcing companies to bar all US citizens, it should look to China, as i think they have cured the problem with the "Great Chinese Fire Wall" and at least the Chinese never pretend that their internet is "uncensored"....

Thanks for the previous info too!

Does anyone know if the US class Virtual Shares (that could be potentially exchanges for anything else (including currency) but not facilitated by me) as currency, or if they are also subject to US money laws?
I wonder this, as some sites that only seem to deal with "virtual shares" seem to have pulled out of the US market.

A resource on countries that are a little more reluctant to co-operate with Totalitarian Sam (I make no claims of accuracy herein): http://uk.askmen.com/top_10/travel_top_ten_150/176_travel_top_ten.html

Disclaimer: IANAL. No legal advice here. None.

Now, the US gov can say you have to comply with this, that, or what have you when serving US clients, but US laws cannot actually be enforced outside of US territory...

...unless the authorities in the third country do the bidding on the US's behalf. Unfortunately, that nasty piece of work Blair-zhnev signed an extradition treaty with the USA based on the presumption of guilt, so if the US accuse you of some serious crime then wham! off you go to their gulag (q.v. Gary McKinnon). That extradition treaty needs to be torn up urgently.

The comparison between the USA and the former Soviet Union are somewhat apt. One is a brutal totalitarian régime... the other's just the former Soviet Union.

If you're operating outside the US and have no assets/servers/accounts in the US then you should just be able to ignore US laws completely, but the UK isn't the best place for doing that, I guess.

No, they were caught completely by surprise by it.

It collapsed because mathematics can't be legislated into obedience.

USA lead USSR to crash. But in general unsustainable systems can't last forever.

I think USA will crash by it's own work. Or China's...

can i prompt of "back on topic" (although it is probably me that took it off topic  ) if anyone has an answer to my below question please?

But wasn't it the USA that "ended" the USSR (unofficially of course!)
Maybe Russia will return the favour now then 

They said the same thing about the USSR.

It's a different decade and a different Evil Empire this time around, but the ending will be the same.