https://www.lexology.com/library/detail.aspx?g=019e4e0f-fddb-4097-895c-c872bbbdcb3aJurisdiction
Although BTC-e is not a US company, FinCEN asserted jurisdiction because BTC-e conducts business as an MSB in substantial part within the United States. More specifically, FinCEN regulates as “money transmitters” (MTs) any person in the business of accepting currency, funds, or any substitute for currency from one person and transmitting such currency, funds, or substitute for currency to another person or location (unless an applicable exemption applies). To establish jurisdiction, FinCEN asserted that:
Since 2011, BTC-e customers located within the United States conducted at least 21,000 virtual currency transactions worth over $296,000,000.
These transactions included funds sent from customers located within the United States to recipients who were also located within the United States.
These transactions were processed through servers located in the United States.
BTC-e attempted to conceal that it provided services to customers located within the United States.
BTC-e instructed customers to make use of correspondent accounts held by foreign financial institutions or services provided by affiliates of BTC-e located abroad.
The whole thing is BS, the fiat went to overseas companies, eg OKPAY in the UK, and then to BTC-e. The crypto, which isn't legally money under the US constitution, is a virtual construct with no fixed address.
I think US is really overreaching on this one.
Putting tighter regulations on ICO's
AlphaBay and Hansa was taken down
Bitmixer.io officially shutdown its business (Because of pressure from the gov't?)
BTC-e then taking down by Fed
Who is next then on the list of the Feds?
I don't know why the US government is suddenly taking on the crypto in general. This is out of their jurisdiction. I would understand if they will bully another third world nation, but this is Russia that are involved here. I think they should have think many times before seizing the BTC-e servers and now BTC-e is trying to get back the funds to give it back to its customers. US has crossed some boundaries here and for sure there will be repercussions on this. And this actions is not the best and most effective way to handle it. They are now waging war on crypto world for that matter. But why just now?
