FinCEN Conducting 'Examinations' of Digital Currency Businesses - page 2.

spartak_t

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Quote from: tokeweed on May 10, 2015, 01:50:56 AM

Quote from: spartak_t on May 10, 2015, 12:30:56 AM

I'm kinda smiling, but guess what might happen with so called "anonymous" coins.

You mean POW coins with anonymous devs? FINCEN will surely have a handful with those. Cheesy

No, I mean those who are trying to be "anonymous".
How do you think authorities will feel about some cryptocurrency, which tries to hide transactions and such?

tokeweed

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Quote from: spartak_t on May 10, 2015, 12:30:56 AM

I'm kinda smiling, but guess what might happen with so called "anonymous" coins.

You mean POW coins with anonymous devs? FINCEN will surely have a handful with those. Cheesy

spartak_t

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I'm kinda smiling, but guess what might happen with so called "anonymous" coins.

tokeweed

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Quote from: ArticMine on May 09, 2015, 08:08:54 PM

Here is the Ripple agreement. http://www.justice.gov/sites/default/files/opa/press-releases/attachments/2015/05/05/settlement_agreement.pdf Well worth reading especially Appendix A. My take is that a fairly launched POW coin (no pre-mine, insta-mine or ninja-mine) is likely safe. So would a proof of burn such a Counterparty. The rest could easily be currently under investigation. If they are working their way down the market capitalization list, it will be very interesting to see how they react to DASH. I would also suspect Ethereum is in the cross hairs not only of FinCEN but also of the SEC.

I was starting to think this. So I guess the future of crypto is in POW..?

ArticMine

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Monero Core Team

Here is the Ripple agreement. http://www.justice.gov/sites/default/files/opa/press-releases/attachments/2015/05/05/settlement_agreement.pdf Well worth reading especially Appendix A. My take is that a fairly launched POW coin (no pre-mine, insta-mine or ninja-mine) is likely safe. So would a proof of burn such a Counterparty. The rest could easily be currently under investigation. If they are working their way down the market capitalization list, it will be very interesting to see how they react to DASH. I would also suspect Ethereum is in the cross hairs not only of FinCEN but also of the SEC.

photon_coin

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Photon --- The First Child Of Blake Coin --Merged

don't think for a second that fbi and treasury department agents have not been all over these forums and other places and the entire scene for years gathering intel.

Spoetnik

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FUD Philanthropist™

What have I been saying for going on 3 years now..

It takes time but I knew they would be coming.. gradually.

If you all didn't see the law coming then your an idiot.
The free for all scammery bs has gotta stop.
The Free (for all) Market has had it's day and I can't wait to see a ton of you all in jail LOL

Sonny91BE

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Quote from: Undermood on May 07, 2015, 05:08:41 AM

FinCEN has fined Ripple Labs and its subsidiary XRP II a combined $700,000 for "willful violations" of the Bank Secrecy Act (BSA). This is the beginning!
http://www.coindesk.com/fincen-fines-ripple-labs-700000-bank-secrecy-act/

I don't understand how crypto's like Ripple tend to stay on top and trusted while coins like Nxt which are amazing but get no recognition at all ..

mrvegad

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Quote from: tokeweed on May 07, 2015, 07:41:22 AM

Quote from: mrvegad on May 07, 2015, 07:21:49 AM

Quote from: Undermood on May 07, 2015, 05:08:41 AM

FinCEN has fined Ripple Labs and its subsidiary XRP II a combined $700,000 for "willful violations" of the Bank Secrecy Act (BSA). This is the beginning!
http://www.coindesk.com/fincen-fines-ripple-labs-700000-bank-secrecy-act/

And that's why now people that want to us the ripple system have to register their identity.

And if you don't? They lock your wallet? Omfg... They have now truly become Paypal 2.0. Ripple as a "protocol" is no more.

A email was sent out to ripple users saying they have to supply their personal info to use it. The US gov't wil do what it takes to kill/control crypto.

tokeweed

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Quote from: mrvegad on May 07, 2015, 07:21:49 AM

Quote from: Undermood on May 07, 2015, 05:08:41 AM

FinCEN has fined Ripple Labs and its subsidiary XRP II a combined $700,000 for "willful violations" of the Bank Secrecy Act (BSA). This is the beginning!
http://www.coindesk.com/fincen-fines-ripple-labs-700000-bank-secrecy-act/

And that's why now people that want to us the ripple system have to register their identity.

And if you don't? They lock your wallet? Omfg... They have now truly become Paypal 2.0. Ripple as a "protocol" is no more.

mrvegad

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Quote from: Undermood on May 07, 2015, 05:08:41 AM

FinCEN has fined Ripple Labs and its subsidiary XRP II a combined $700,000 for "willful violations" of the Bank Secrecy Act (BSA). This is the beginning!
http://www.coindesk.com/fincen-fines-ripple-labs-700000-bank-secrecy-act/

And that's why now people that want to us the ripple system have to register their identity.

Undermood

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FinCEN has fined Ripple Labs and its subsidiary XRP II a combined $700,000 for "willful violations" of the Bank Secrecy Act (BSA). This is the beginning!
http://www.coindesk.com/fincen-fines-ripple-labs-700000-bank-secrecy-act/

HI-TEC99

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Quote from: JackRipper on May 06, 2015, 07:56:06 PM

That doesn't sound very good for Cryptsy. They seem to have met Federal requirements, but by their own admission, they don't meet most state requirements.

Bittrex might be safe since they don't deal in fiat. I don't know though.

Bittrex hosted IPOs, and I think they already prosecuted someone running one for selling unlicensed securities. Perhaps Bittrex it at risk of prosecution.

JackRipper

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That doesn't sound very good for Cryptsy. They seem to have met Federal requirements, but by their own admission, they don't meet most state requirements.

Bittrex might be safe since they don't deal in fiat. I don't know though.

tokeweed

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The inquisition begins.

Quote

US Financial Crimes Enforcement Network (FinCEN) director Jennifer Shasky Calvery said during a speech today that her agency is in the process of investigating businesses in the digital currency ecosystem.

Calvery gave the keynote address during the first day of the 2015 West Coast Anti-Money Laundering Forum in San Francisco. FinCEN later published the text of her speech, which acknowledged that “a series of supervisory examinations of businesses in the virtual currency industry” had begun.

Full article here http://www.coindesk.com/fincen-director-examiniation-digital-currency/

Topic: FinCEN Conducting 'Examinations' of Digital Currency Businesses - page 2. (Read 2308 times)