https://bitcoinmagazine.com/articles/fincen-bitcoin-users-not-regulated-exchanges-are-1363675774
he clearly did not read this properly. so will quote the relevant parts for him to read here.
quote; (tiny vern/cryptsy)
The definition of exchangers is simple: “An exchanger is a person engaged as a business in the exchange of virtual currency for real currency, funds, or other virtual currency.” Finally, a user is simply someone who uses virtual currencies to buy and sell goods and services.
quote;
The major boon from the document for Bitcoin is this: users get off lightly. In fact, FINCEN does not intend to touch mere users of virtual currency at all; the document states, “a user who obtains convertible virtual currency and uses it to purchase real or virtual goods or services is not an MSB under FinCEN’s regulations. Such activity, in and of itself, does not fit within the definition of “money transmission services” and therefore is not subject to FinCEN’s registration, reporting, and recordkeeping regulations for MSBs.
Topic: CRYPTSY stopping withdraw locking accounts without notifying users! Class Action - page 223. (Read 1006936 times)
February 16, 2016, 06:05:30 PM
February 16, 2016, 04:21:32 PM
Charlie Shrem: I fucked up and will serve time for my fuck up.
Paul Vernon: I'm leaving the country with all my clients' moneys. Got mine!
Paul Vernon: I'm leaving the country with all my clients' moneys. Got mine!
February 16, 2016, 09:45:37 AM
Crypto exchanges should be replaced with a true p2p system that can use RF and solar powered communication channels.
http://thewashingtonstandard.com/cashless-crisis-with-digital-payments-civilization-comes-to-an-end-until-power-is-restored
Put the power in the hands of all the people, not just a few.
http://thewashingtonstandard.com/cashless-crisis-with-digital-payments-civilization-comes-to-an-end-until-power-is-restored
Put the power in the hands of all the people, not just a few.
February 16, 2016, 04:44:54 AM
"Deep down in places you don't talk about at parties, Cryptsy simply went over that wall."
The CEA is not applicable to Cryptsy.
FinCEN regulations would require fiat funds for customers to be segregated. However, digital currencies are unlikely to be treated in the same manner.
https://bitcoinmagazine.com/articles/fincen-bitcoin-users-not-regulated-exchanges-are-1363675774
Quote
The paper starts off delineating a clear definition of what virtual currency is: “FinCEN’s regulations define currency (also referred to as “real” currency) as “the coin and paper money of the United States or of any other country that is designated as legal tender and that [ii] circulates and [iii] is customarily used and accepted as a medium of exchange in the country of issuance. ” In contrast to real currency, “virtual” currency is a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency. In particular, virtual currency does not have legal tender status in any jurisdiction.” It then breaks digital currencies down into three forms: e-currencies and e-precious metals, centralized digital currencies and decentralized digital currencies. Although the document does not explicity define an e-currency and what differentiates it from any other virtual currency, a footnote makes the likely intended meaning clear: “Typically, this involves the broker or dealer electronically distributing digital certificates of ownership of real currencies or precious metals, with the digital certificate being the virtual currency.” That is, e-currencies are essentially certificates for what FINCEN calls “real” currencies – that is, currencies that are, somewhere in the world, legal tender. Centralized virtual currencies are digital currencies that have a “centralized repository”; this is likely intended as a catch-all term for any virtual currencies which are not simply tokens for “real” currency or precious metals but rather a currency in their own right, Second Life’s Linden dollars is perhaps the existing canonical example, although a hypothetical Bitcoin-like unbacked currency backed by a central repository would also fall into the scope. Finally, there are decentralized digital currencies. A decentralized digital currency is one “(1) that has no central repository and no single administrator , and (2) that persons may obtain by their own computing or manufacturing effort” – Bitcoin being right in the crosshairs. Interestingly, Ripple fits one half of the definition but not the other – although Ripple itself is decentralized, or at least will be once the server is released, all 100 billion XRP that will ever exist have already been created. If Ripple succeeds, perhaps FINCEN will be forced to release yet another clarifying guidance paper in two years’ time.
I'm such a fuckin' idiot! I mistaken Cryptsy accepting and remitting fiat for blueberries.
you must have cabin fever
February 16, 2016, 02:11:04 AM
"Deep down in places you don't talk about at parties, Cryptsy simply went over that wall."
The CEA is not applicable to Cryptsy.
FinCEN regulations would require fiat funds for customers to be segregated. However, digital currencies are unlikely to be treated in the same manner.
https://bitcoinmagazine.com/articles/fincen-bitcoin-users-not-regulated-exchanges-are-1363675774
Quote
The paper starts off delineating a clear definition of what virtual currency is: “FinCEN’s regulations define currency (also referred to as “real” currency) as “the coin and paper money of the United States or of any other country that is designated as legal tender and that [ii] circulates and [iii] is customarily used and accepted as a medium of exchange in the country of issuance. ” In contrast to real currency, “virtual” currency is a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency. In particular, virtual currency does not have legal tender status in any jurisdiction.” It then breaks digital currencies down into three forms: e-currencies and e-precious metals, centralized digital currencies and decentralized digital currencies. Although the document does not explicity define an e-currency and what differentiates it from any other virtual currency, a footnote makes the likely intended meaning clear: “Typically, this involves the broker or dealer electronically distributing digital certificates of ownership of real currencies or precious metals, with the digital certificate being the virtual currency.” That is, e-currencies are essentially certificates for what FINCEN calls “real” currencies – that is, currencies that are, somewhere in the world, legal tender. Centralized virtual currencies are digital currencies that have a “centralized repository”; this is likely intended as a catch-all term for any virtual currencies which are not simply tokens for “real” currency or precious metals but rather a currency in their own right, Second Life’s Linden dollars is perhaps the existing canonical example, although a hypothetical Bitcoin-like unbacked currency backed by a central repository would also fall into the scope. Finally, there are decentralized digital currencies. A decentralized digital currency is one “(1) that has no central repository and no single administrator , and (2) that persons may obtain by their own computing or manufacturing effort” – Bitcoin being right in the crosshairs. Interestingly, Ripple fits one half of the definition but not the other – although Ripple itself is decentralized, or at least will be once the server is released, all 100 billion XRP that will ever exist have already been created. If Ripple succeeds, perhaps FINCEN will be forced to release yet another clarifying guidance paper in two years’ time.
I'm such a fuckin' idiot! I mistaken Cryptsy accepting and remitting fiat for blueberries.
February 16, 2016, 01:56:54 AM
"Deep down in places you don't talk about at parties, Cryptsy simply went over that wall."
The CEA is not applicable to Cryptsy.
FinCEN regulations would require fiat funds for customers to be segregated. However, digital currencies are unlikely to be treated in the same manner.
https://bitcoinmagazine.com/articles/fincen-bitcoin-users-not-regulated-exchanges-are-1363675774
Quote
The paper starts off delineating a clear definition of what virtual currency is: “FinCEN’s regulations define currency (also referred to as “real” currency) as “the coin and paper money of the United States or of any other country that is designated as legal tender and that [ii] circulates and [iii] is customarily used and accepted as a medium of exchange in the country of issuance. ” In contrast to real currency, “virtual” currency is a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency. In particular, virtual currency does not have legal tender status in any jurisdiction.” It then breaks digital currencies down into three forms: e-currencies and e-precious metals, centralized digital currencies and decentralized digital currencies. Although the document does not explicity define an e-currency and what differentiates it from any other virtual currency, a footnote makes the likely intended meaning clear: “Typically, this involves the broker or dealer electronically distributing digital certificates of ownership of real currencies or precious metals, with the digital certificate being the virtual currency.” That is, e-currencies are essentially certificates for what FINCEN calls “real” currencies – that is, currencies that are, somewhere in the world, legal tender. Centralized virtual currencies are digital currencies that have a “centralized repository”; this is likely intended as a catch-all term for any virtual currencies which are not simply tokens for “real” currency or precious metals but rather a currency in their own right, Second Life’s Linden dollars is perhaps the existing canonical example, although a hypothetical Bitcoin-like unbacked currency backed by a central repository would also fall into the scope. Finally, there are decentralized digital currencies. A decentralized digital currency is one “(1) that has no central repository and no single administrator , and (2) that persons may obtain by their own computing or manufacturing effort” – Bitcoin being right in the crosshairs. Interestingly, Ripple fits one half of the definition but not the other – although Ripple itself is decentralized, or at least will be once the server is released, all 100 billion XRP that will ever exist have already been created. If Ripple succeeds, perhaps FINCEN will be forced to release yet another clarifying guidance paper in two years’ time.
February 16, 2016, 12:54:41 AM
"Deep down in places you don't talk about at parties, Cryptsy simply went over that wall."
February 15, 2016, 11:33:11 PM
has anyone in U.S ctually reported vern to fbi or po-lice ?
I reported it to several Federal agencies.
February 15, 2016, 10:32:31 PM
February 15, 2016, 06:11:01 PM
has anyone in U.S ctually reported vern to fbi or po-lice ?
Quite a few people, myself included, have filled out reports with agencies like IRS, FinCen, SEC, FBI, etc. And these agencies are well aware of Cryptsy's activities including their involvement with XPY, as the Garzas are currently under SEC indictment. It's not a lack of awareness... government stuff like this just doesn't happen that fast.
this is not a joke and this people are insane if they think the US GOV/enforcment agancies will let them get away with this.
the reality;
http://www.cnbc.com/2015/09/18/bitcoin-now-classed-as-a-commodity-in-the-us.html
the possibilities;
Commodities Trader Found Guilty in ‘Spoofing’ Case.
http://www.wsj.com/articles/commodities-trader-found-guilty-in-spoofing-case-1446599725
http://www.theguardian.com/us-news/2015/nov/04/us-high-frequency-trader-convicted-first-spoofing-case-michael-coscia
stealing bitcoin no different to stealing gold etc..
in my own personal words arrest is imminent. and punishment will be severe. and some peoples lifes will never be the same again. horus seems your people made a name for themselves and you the prodigal son is the bastard child that wants to put that name to shame and dishonour. save yourself from a long prison sentence. its only 12 million split between how many people. so i,m guessing you got about 500K out of it for your part whilst vern is buying 1.2 mill properties. you are a fool what kind of mason are you ? like i said before you must be the lodge sweeper/cleaner or something. like how stupid did/do you have to be to have even taking part in such a stupid theft in the first place.
https://www.youtube.com/watch?v=2AlRo3XKEaU
February 15, 2016, 05:46:32 PM
I'll be a son of a bitch! Horus moved down to Mexico to preform in his new gig: https://www.youtube.com/watch?v=Nc9xq-TVyHI
oh thanx a lot gleb. yu just made me waste 10 minutes of my life watching frikkin ridiculous dog dancin vids
Wait, Horus uploaded more videos of him dancing in a tutu with a Mexican?
February 15, 2016, 05:45:34 PM
has anyone in U.S ctually reported vern to fbi or po-lice ?
Quite a few people, myself included, have filled out reports with agencies like IRS, FinCen, SEC, FBI, etc. And these agencies are well aware of Cryptsy's activities including their involvement with XPY, as the Garzas are currently under SEC indictment. It's not a lack of awareness... government stuff like this just doesn't happen that fast.
Don't forget, John MacPherson aka Horus probably no longer has "Brothers" since his Freemason lodge has been notified about this lyin', thievin' ways.
Highly doubtful. Haven't you seen the movie 'Brotherhood of the Bell' with Glenn Ford? Freemasons help each other even in times like these and they will help him with whatever he needs as long as he is sure to pay THEM the due bill when it comes.
https://www.youtube.com/watch?v=zdUm_jLbg-o
February 15, 2016, 05:04:49 PM
I'll be a son of a bitch! Horus moved down to Mexico to preform in his new gig: https://www.youtube.com/watch?v=Nc9xq-TVyHI
oh thanx a lot gleb. yu just made me waste 10 minutes of my life watching frikkin ridiculous dog dancin vids
February 15, 2016, 04:52:47 PM
has anyone in U.S ctually reported vern to fbi or po-lice ?
jeezus christ... has anyone like just called the cops?
caller: id like to report a crime! Paul Vernon stole my bitcoin!!!
police: um.. whats a bitcoin?
caller: id like to report a crime! Paul Vernon stole my bitcoin!!!
police: um.. whats a bitcoin?
sorry couldnt resist quoting myself. i even got called an asshole for that one
February 15, 2016, 04:44:29 PM
has anyone in U.S ctually reported vern to fbi or po-lice ?
Quite a few people, myself included, have filled out reports with agencies like IRS, FinCen, SEC, FBI, etc. And these agencies are well aware of Cryptsy's activities including their involvement with XPY, as the Garzas are currently under SEC indictment. It's not a lack of awareness... government stuff like this just doesn't happen that fast.
Don't forget, John MacPherson aka Horus probably no longer has "Brothers" since his Freemason lodge has been notified about this lyin', thievin' ways.
oh, Horus will be meeting 'the brothers'
and he will have two choices, 'syrup or jelly'
https://www.youtube.com/watch?v=nOlHkUaSFJ8
February 15, 2016, 04:41:50 PM
has anyone in U.S ctually reported vern to fbi or po-lice ?
Quite a few people, myself included, have filled out reports with agencies like IRS, FinCen, SEC, FBI, etc. And these agencies are well aware of Cryptsy's activities including their involvement with XPY, as the Garzas are currently under SEC indictment. It's not a lack of awareness... government stuff like this just doesn't happen that fast.
cool, thanks
I hope to see vern in leg irons
February 15, 2016, 04:38:03 PM
has anyone in U.S ctually reported vern to fbi or po-lice ?
Quite a few people, myself included, have filled out reports with agencies like IRS, FinCen, SEC, FBI, etc. And these agencies are well aware of Cryptsy's activities including their involvement with XPY, as the Garzas are currently under SEC indictment. It's not a lack of awareness... government stuff like this just doesn't happen that fast.
Don't forget, John MacPherson aka Horus probably no longer has "Brothers" since his Freemason lodge has been notified about this lyin', thievin' ways.
February 15, 2016, 04:22:22 PM
has anyone in U.S ctually reported vern to fbi or po-lice ?
Quite a few people, myself included, have filled out reports with agencies like IRS, FinCen, SEC, FBI, etc. And these agencies are well aware of Cryptsy's activities including their involvement with XPY, as the Garzas are currently under SEC indictment. It's not a lack of awareness... government stuff like this just doesn't happen that fast.
It's also possible they were already being investigated and the investigation was 'contaminated' just as with the Mt. Gox investigation.
Quote
“the number of cases that Mr. Bridges contaminated – as well as investigations across the country that his conduct led to have to be shut down – is startling.” Bridges’ actions apparently led authorities to end an investigation into Mt. Gox.
I reported that in my country, in the US and in Canada. Some agencies.
February 15, 2016, 03:55:42 PM
has anyone in U.S ctually reported vern to fbi or po-lice ?
Quite a few people, myself included, have filled out reports with agencies like IRS, FinCen, SEC, FBI, etc. And these agencies are well aware of Cryptsy's activities including their involvement with XPY, as the Garzas are currently under SEC indictment. It's not a lack of awareness... government stuff like this just doesn't happen that fast.
It's also possible they were already being investigated and the investigation was 'contaminated' just as with the Mt. Gox investigation.
Quote
“the number of cases that Mr. Bridges contaminated – as well as investigations across the country that his conduct led to have to be shut down – is startling.” Bridges’ actions apparently led authorities to end an investigation into Mt. Gox.
February 15, 2016, 03:11:47 PM
has anyone in U.S ctually reported vern to fbi or po-lice ?
Quite a few people, myself included, have filled out reports with agencies like IRS, FinCen, SEC, FBI, etc. And these agencies are well aware of Cryptsy's activities including their involvement with XPY, as the Garzas are currently under SEC indictment. It's not a lack of awareness... government stuff like this just doesn't happen that fast.
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