Avalon hello!
Maybe I totally miss the point, but,
According this document http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html ,
if you are Jerrod Bunce, you are a money transmitter-an "Exchanger" of a "De-Centralized/convertible Virtual Currencies" as a "money service business".
Since USA is the unique democratic country where you can serve a lifetime sentence for a pizza theft,in order to operate legally on the entire country,You must, for Btcquick, you and yours shareholders obtain:
* the btcquick registration with the Department of the Treasury
* In every 51 states a money transmitter licence or a "no action letter"
All theses requirements seems take long time and cost much, about ten of thousands dollars. Maybe Santori can lower that with his skills,but I hope for all of us he is the best!
Please give us substantial news or status,keep us informed of btcquick future.
Topic: [Bit Funder] [btcquick] [Rising profits] - page 6. (Read 42853 times)
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A professor of economics from any developing country would not qualify as a "accredited investor" but Kim Karadshian would be approved in a second.
A professor of economics from any developing country would not qualify as a "accredited investor" but Kim Karadshian would be approved in a second.
A professor of economics from a developing country can do whatever that country's laws allow him to. I'm sure Somalia's law is much more accommodating. The reason that Kim Kardashian is allowed to waste money is she can afford it & won't go on welfare if she gets none of it back.
Quote
I wonder why the US is in such deep economic problems..
We're doing fine, thanks
Its sad that a well run business like this has all these problems due to regulators.
Whats shocking to me is the concept of "accredited investor". Why can't normal people help a business they like and maybe get a return back for the effort? Friends do this all the time.
A professor of economics from any developing country would not qualify as a "accredited investor" but Kim Karadshian would be approved in a second.
I wonder why the US is in such deep economic problems..
Simply because years ago this was inconcievable, you couldn't just do that in any practical way.Whats shocking to me is the concept of "accredited investor". Why can't normal people help a business they like and maybe get a return back for the effort? Friends do this all the time.
A professor of economics from any developing country would not qualify as a "accredited investor" but Kim Karadshian would be approved in a second.
I wonder why the US is in such deep economic problems..
Now that we can, the bureocracy and the related laws are very very very VERY slow catching up.
Its sad that a well run business like this has all these problems due to regulators.
Whats shocking to me is the concept of "accredited investor". Why can't normal people help a business they like and maybe get a return back for the effort? Friends do this all the time.
A professor of economics from any developing country would not qualify as a "accredited investor" but Kim Karadshian would be approved in a second.
I wonder why the US is in such deep economic problems..
I hope BTCquick does well, I really liked there service.
Whats shocking to me is the concept of "accredited investor". Why can't normal people help a business they like and maybe get a return back for the effort? Friends do this all the time.
A professor of economics from any developing country would not qualify as a "accredited investor" but Kim Karadshian would be approved in a second.
I wonder why the US is in such deep economic problems..
I hope BTCquick does well, I really liked there service.
Freedom of choice will be occur in one day ~~
Its sad that a well run business like this has all these problems due to regulators.
Whats shocking to me is the concept of "accredited investor". Why can't normal people help a business they like and maybe get a return back for the effort? Friends do this all the time.
A professor of economics from any developing country would not qualify as a "accredited investor" but Kim Karadshian would be approved in a second.
I wonder why the US is in such deep economic problems..
I hope BTCquick does well, I really liked there service.
Whats shocking to me is the concept of "accredited investor". Why can't normal people help a business they like and maybe get a return back for the effort? Friends do this all the time.
A professor of economics from any developing country would not qualify as a "accredited investor" but Kim Karadshian would be approved in a second.
I wonder why the US is in such deep economic problems..
I hope BTCquick does well, I really liked there service.
So those people who selling BTC physical coin online is require a MSB ? This question is only can be answered if BTC is a legally currency.
Technically, yes they are. Bitcoin has already been deemed a "convertible virtual currency" by FinCEN so it need not be called a "legal currency" per se.
Quote
An administrator or exchanger that (1) accepts and transmits a convertible virtual currency or (2) buys or sells convertible virtual currency for any reason is a money transmitter under FinCEN's regulations, unless a limitation to or exemption from the definition applies to the person
What will be in case if BTCquick can't sell Bitcoins? What will be with shares on bitunder? They will be refunded?
This is only sell Bitcoins, not exchange service like assets exchange platform. You can sell lots of stuff on internet, sb. even sell Bitcoin on ebay or amazon. So the legal issue of selling bitcoin should not be a big issue.
But I think just this concern makes lots of people panic, or else others wouldn't have such a good opportunity to buy shares at such a low price.
Profit and risk exist together, usually the higher risk the higher profit. People have to make choice by themselves.
The legal issue is releasing unregistered security to a lot of unaccredited investors. If the company is 100% privately invested, like coinbase, it will be much safer.
Do you think btcquick need a MSB to operate?
Of course they do.
Bitquick is breaking the law in a few ways, and I am concerned for their future. The security is illegal from the perspective of the SEC, and there is a good chance they are breaking the MSB rules as well.
They would argue that because they are simply "selling" Bitcoins in a one-way street manner (there is no movement of funds between multiple parties like an exchange) they are exempt but I am very wary of this argument. I say this because if you look at the recent regulatory guidance, FinCEN classified Bitcoin in the same category as a traveler's cheque.
If you allow people to redeem traveler's cheques for dollars int he US you are an MSB. Thus I think btcquick is an MSB... and they are certainly not registered as such. I hope they do this for their own benefit, I want to see everyone succeed.
So those people who selling BTC physical coin online is require a MSB ? This question is only can be answered if BTC is a legally currency.
What will be in case if BTCquick can't sell Bitcoins? What will be with shares on bitunder? They will be refunded?
This is only sell Bitcoins, not exchange service like assets exchange platform. You can sell lots of stuff on internet, sb. even sell Bitcoin on ebay or amazon. So the legal issue of selling bitcoin should not be a big issue.
But I think just this concern makes lots of people panic, or else others wouldn't have such a good opportunity to buy shares at such a low price.
Profit and risk exist together, usually the higher risk the higher profit. People have to make choice by themselves.
The legal issue is releasing unregistered security to a lot of unaccredited investors. If the company is 100% privately invested, like coinbase, it will be much safer.
Do you think btcquick need a MSB to operate?
Of course they do.
Bitquick is breaking the law in a few ways, and I am concerned for their future. The security is illegal from the perspective of the SEC, and there is a good chance they are breaking the MSB rules as well.
They would argue that because they are simply "selling" Bitcoins in a one-way street manner (there is no movement of funds between multiple parties like an exchange) they are exempt but I am very wary of this argument. I say this because if you look at the recent regulatory guidance, FinCEN classified Bitcoin in the same category as a traveler's cheque.
If you allow people to redeem traveler's cheques for dollars int he US you are an MSB. Thus I think btcquick is an MSB... and they are certainly not registered as such. I hope they do this for their own benefit, I want to see everyone succeed.
What will be in case if BTCquick can't sell Bitcoins? What will be with shares on bitunder? They will be refunded?
This is only sell Bitcoins, not exchange service like assets exchange platform. You can sell lots of stuff on internet, sb. even sell Bitcoin on ebay or amazon. So the legal issue of selling bitcoin should not be a big issue.
But I think just this concern makes lots of people panic, or else others wouldn't have such a good opportunity to buy shares at such a low price.
Profit and risk exist together, usually the higher risk the higher profit. People have to make choice by themselves.
The legal issue is releasing unregistered security to a lot of unaccredited investors. If the company is 100% privately invested, like coinbase, it will be much safer.
Do you think btcquick need a MSB to operate?
What will be in case if BTCquick can't sell Bitcoins? What will be with shares on bitunder? They will be refunded?
This is only sell Bitcoins, not exchange service like assets exchange platform. You can sell lots of stuff on internet, sb. even sell Bitcoin on ebay or amazon. So the legal issue of selling bitcoin should not be a big issue.
But I think just this concern makes lots of people panic, or else others wouldn't have such a good opportunity to buy shares at such a low price.
Profit and risk exist together, usually the higher risk the higher profit. People have to make choice by themselves.
The legal issue is releasing unregistered security to a lot of unaccredited investors. If the company is 100% privately invested, like coinbase, it will be much safer.
This is only sell Bitcoins, not exchange service like assets exchange platform. You can sell lots of stuff on internet, sb. even sell Bitcoin on ebay or amazon. So the legal issue of selling bitcoin should not be a big issue.
The legal issues are practically identical, at least with respect to U.S. MSB registration and state level money transmitter licensure.
What will be in case if BTCquick can't sell Bitcoins? What will be with shares on bitunder? They will be refunded?
This is only sell Bitcoins, not exchange service like assets exchange platform. You can sell lots of stuff on internet, sb. even sell Bitcoin on ebay or amazon. So the legal issue of selling bitcoin should not be a big issue.
But I think just this concern makes lots of people panic, or else others wouldn't have such a good opportunity to buy shares at such a low price.
Profit and risk exist together, usually the higher risk the higher profit. People have to make choice by themselves.
What will be in case if BTCquick can't sell Bitcoins? What will be with shares on bitunder? They will be refunded?
No
What will be in case if BTCquick can't sell Bitcoins? What will be with shares on bitunder? They will be refunded?
Ok, well the 1st of November will be coming up pretty quick. Do we have any ideas on what will happen for US shareholders? I think this should be addressed very soon before the share price tanks any further.
Look at the trading history and ask orders, it shows that US investors sold shares panic. There are not many ask shares, but large trading are just "sell" order. I don't know what could happen in the future, but I think it's worth of holding at this price even the trading will not be available. The dividends are good enough to hold those shares.
Ok, well the 1st of November will be coming up pretty quick. Do we have any ideas on what will happen for US shareholders? I think this should be addressed very soon before the share price tanks any further.
While shareholder concerns do have an impact on price. The big problem is can the company continue operation. Exchanges shutting down and WeExchange only available in a few select states now. It's not getting better any time soon.
Time to move to Canada Ascension? We welcome you!
Ok, well the 1st of November will be coming up pretty quick. Do we have any ideas on what will happen for US shareholders? I think this should be addressed very soon before the share price tanks any further.
While shareholder concerns do have an impact on price. The big problem is can the company continue operation. Exchanges shutting down and WeExchange only available in a few select states now. It's not getting better any time soon.
The company isn't an exchange though. Granted I suppose they issued a security. They would just have to follow the appropriate money exchange regulations.
Ok, well the 1st of November will be coming up pretty quick. Do we have any ideas on what will happen for US shareholders? I think this should be addressed very soon before the share price tanks any further.
While shareholder concerns do have an impact on price. The big problem is can the company continue operation. Exchanges shutting down and WeExchange only available in a few select states now. It's not getting better any time soon.
hi looking forward for update?
Ok, well the 1st of November will be coming up pretty quick. Do we have any ideas on what will happen for US shareholders? I think this should be addressed very soon before the share price tanks any further.
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