Some times bullshit gets caught in tight corners .
Ooops... this is unexpected !!!
Hi,
Since you guys are so pushy, let me provide some information on what we are doing.
We are coming out with an exchange with the intent and focus of remittance and not trading. Now to start with the service and to avoid any issues we are processing USD in following possible options, we are either going to either acquire an MSB license, a partner who have it already or ask customer to directly deposit funds in our company US account (to avoid currency exchange) or using services like OKPay. We don't need MSB specifically for many countries in which we plan to start, as none of them have actually regulated bitcoin as currencies, but to avoid any future hassles, we are taking preemptive steps.
Now we keep visiting legal and financial consultants on time to time basis to consult on these topics and get guidance for what to do, its not any rule book stuff which we can just follow. However after saying that, we understand that we might still be missing something, so I would request you to come forward and help us know if we are missing something, instead of criticizing without knowing what it is. If you need any specific info before commenting please PM me and I will be glad to discuss.
Thanks @buysellbitcoin for the info, we have already started looking into his suggestions. We will really appreciate some suggestions like that.
Regards,
Amit
So, what did you mean when you said that 'Yes we are processing one and should be ready by next week'
Was it buff? Or just a plain ole lie? Or just anticipation?
This, I would like to see, especially when there is no clue as to what is really needed to start this. Not even which licence?
From what I can see, you'll are trying the same approach that Buttercoin tried and failed.
Betcha a Satoshi, this will not go live next week with legalities in place
. Can go live without them.
But its getting a bit annoying to track the relevance of these types of news.
There was a funny acquisition news as well last month from you'll where the parent company apparently acquired its own product. I did speak to some reporters to publish the news, but they reverted saying that it lacked credibility.
Not sure what you think, but these are really bad practices that can hurt you and the community worse than you know.
If this is incomplete news or something that is untrue, please keep it on PM's and messages. Getting stuff like this public WILL attract attention.