Ive heard conflicting things.
Also what is a MTB. If T stands for transfer, then yeah its the same thing I believe.
Also what is a MTB. If T stands for transfer, then yeah its the same thing I believe.
Money transmitter
Topic: How are the "companies" here performing transactions? State/Fed MSB Reg? (Read 948 times)
April 15, 2013, 07:59:17 AM
Money transmitter
April 15, 2013, 05:01:31 AM
if they come anywhere close to being hit by the feds, just put everything into btc and close shop
April 14, 2013, 04:27:06 PM
Ive heard conflicting things.
Also what is a MTB. If T stands for transfer, then yeah its the same thing I believe.
Also what is a MTB. If T stands for transfer, then yeah its the same thing I believe.
April 14, 2013, 02:29:04 PM
An MSB doesn't need to register in every state, do they? Only an MTB does, I believe.
April 10, 2013, 09:47:01 PM
Just wondering if all these exchange companies are complying with regulations.
I certainly hope not. As more come online, I hope fewer do comply.
This overarching Hegelian State bullshit has to stop.
April 10, 2013, 09:44:26 PM
Ok, it would not of cost that much I dont think, but I am assuming this is what they are talking about.
Additionally, if the cost is even 1/100th of this, then no one else on here is legit.
Additionally, if the cost is even 1/100th of this, then no one else on here is legit.
April 10, 2013, 09:19:01 PM
MtGox said in an interview that they spent $25mil to become fully compliant in the USA.
While this may be way over stated, registration is required.
While this may be way over stated, registration is required.
April 10, 2013, 08:03:37 PM
According to the law if you transact with US customers, you are subject to regulation. It seems like MtGox does proper verification, but I don't believe they are registered as a MSB in every state they do business, (do they need to be?).
Either way I don't think any of the smaller exchanges (& exchange services) meet this criteria.
Let me assure you this is a law that they don't take lightly, and anyone doing bitcoin to usd (or vice versa) transactions that isn't fully registered (local, state, federal) and reporting/verifying customers, you could be in for a serious surprise.
Either way I don't think any of the smaller exchanges (& exchange services) meet this criteria.
Let me assure you this is a law that they don't take lightly, and anyone doing bitcoin to usd (or vice versa) transactions that isn't fully registered (local, state, federal) and reporting/verifying customers, you could be in for a serious surprise.
April 10, 2013, 05:49:33 PM
Interesting question, not sure, although I know that Mt.Gox is located in Japan, and they commonly use Bank Wire Transfers.
Not sure if the laws change around international commerce? Is there a way to register as a MSB for the internet?
Not sure if the laws change around international commerce? Is there a way to register as a MSB for the internet?
April 10, 2013, 05:40:58 PM
Just wondering if all these exchange companies are complying with regulations.
From my understanding you need to be registered as a MSB in every state you do business, and federally.
I doubt anyone here has pulled that off properly.
Any thoughts?
From my understanding you need to be registered as a MSB in every state you do business, and federally.
I doubt anyone here has pulled that off properly.
Any thoughts?
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