How long before Gox gets Dwolla back?

Franktank

hero member

Activity: 560

Merit: 500

Quote from: mgio on May 19, 2013, 12:38:20 AM

MtGox is never brining Dwolla back.

This isn't just a little white lie. MtGox would have to register as a money transmitter in all 50 states. Plus it costs $25 million dollars and they have to have insurance for all the moeny they transmit.

It's never going to happen. Don't wait around for it.

MtGox is going to lost a lot of customers if that's the case. They still dictate the market value but for how long...?

mgio

hero member

Activity: 546

Merit: 500

Quote from: Quantus on May 18, 2013, 06:03:05 PM

The way I see it Mt-Gox told a little white lie when opening a bank account in the US. They then made the bigger mistake of forgetting about it.

They should have refiled all those documents as soon as they had the money and time to do so.

Legality of the laws in place to regulate and monitor the banking system in the US aside, this is not an attack on Bitcoin by the US government. This is just government bureaucracy.

If MtGox cuts there losses and opens new bank accounts with the right information how long would it take to reopen Dwolla transfers? And why haven't they done so already?

MtGox is never brining Dwolla back.

This isn't just a little white lie. MtGox would have to register as a money transmitter in all 50 states. Plus it costs $25 million dollars and they have to have insurance for all the moeny they transmit.

It's never going to happen. Don't wait around for it.

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

I think they'd have to answer in court and possible pay a fine, maybe even more drastic.

After that is finished they can do it the right way. All in all I think that would take a few months at least. Perhaps around the same time BFL delivers (scnr Grin

)

Quantus

legendary

Activity: 883

Merit: 1005

The way I see it Mt-Gox told a little white lie when opening a bank account in the US. They then made the bigger mistake of forgetting about it.

They should have refiled all those documents as soon as they had the money and time to do so.

Legality of the laws in place to regulate and monitor the banking system in the US aside, this is not an attack on Bitcoin by the US government. This is just government bureaucracy.

If MtGox cuts there losses and opens new bank accounts with the right information how long would it take to reopen Dwolla transfers? And why haven't they done so already?

Topic: How long before Gox gets Dwolla back? (Read 768 times)