I feel like this could be an attempt to regulate gold farmers (e.g., WoW Gold) just as much, if not more than bitcoin. I was going to re-read the posted "new rules", but couldnt find them in a quick skim and am too lazy to look more.
Anyways, is this a possibility? Could some major player in the entertainment industry be pushing and lobbying to get their way again and this just happens to also fit the same bill for bitcoin? If so, how does this apply to game cards? For example, if I buy a League of Legends card from Walmart, that is a specific and exclusive voucher to redeem Riot Points, a virtual currency. Will Walmart have to stop selling these cards?
Topic: I am a certified Anti-Money Laundering agent. (AMLCA) - page 2. (Read 9937 times)
... Like I give a shit that you run a communal laundromat. 
I would just like to let you know that someone other than you appreciates this.
On topic: this doesn't affect anyone with a functioning brain and/or spine. Launder away.
... Like I give a shit that you run a communal laundromat.
I would just like to let you know that someone other than you appreciates this.On topic: this doesn't affect anyone with a functioning brain and/or spine. Launder away.
I don't care. US is not the world. Bitcoin is not the US. Government with their centralised nature fail to understand the meaning of decentralised. Good luck regulating Bitcoin like you did with BitTorrent.
This is all BS.
Bitcoins should not be subject to regulation by anyone! Governments should prevent crime or prosecute it in its early stages, so that it doesn't use the bitcoin network as a means of transferring money.
Bitcoins should not be subject to regulation by anyone! Governments should prevent crime or prosecute it in its early stages, so that it doesn't use the bitcoin network as a means of transferring money.
How about this for a question:
Pseudonomity gives us plausible deniability, but it's really not that hard to trace money in the network that hasn't gone through a mixing service.
Can you see any way (and I'm absolutely sure that the power that be will try as hard as they can to find such a way) using sophisticated taint analysis to track who owns what and use that as a mean to regulate?
Pseudonomity gives us plausible deniability, but it's really not that hard to trace money in the network that hasn't gone through a mixing service.
Can you see any way (and I'm absolutely sure that the power that be will try as hard as they can to find such a way) using sophisticated taint analysis to track who owns what and use that as a mean to regulate?
So are you an private auditor for private sector or a federal agent?
Neither it is like being certified in using Microsoft word. It is a check the box type certification so a cash handling business can say their employees were trained. A couple hours of study (online courses available) and a multiple choice exam.
Thanks for Clarifying.
I am a Certified Broke Ass College Boy
Big changes are coming to the major exchanges. I can answer any questions regarding MSB requirements, state and federal. BitPay, Coinbase, and others will be required to obtain registration as well as licensure.
Are you Agent Dumas from the french government?
does this mean selling drugs on silk road is going to be illegal soon?
It means that the people selling on SR are in the clear as they're not classified as MSBs. I'm sure they're very relieved.
Big changes are coming to the major exchanges. I can answer any questions regarding MSB requirements, state and federal. BitPay, Coinbase, and others will be required to obtain registration as well as licensure.
Are there any UNCERTIFIED anti money laundering agents? Would those people just be hobbyists?
does this mean selling drugs on silk road is going to be illegal soon?
I'm shocked (not really) that the regulators don't realize this yet.
Regulators aren't known for being able to see too far beyond lunchtime.
Don't you think that someone who invested in mt gox found it in their interest to put "another barrier" to entry up for people that plan to follow? Using your lawyers to make it more expensive and complicated for anyone to start competing?
As we all know it is in reality Wall St. that writes these regulations ... it looks to me like Wall St. wants a piece of the action.
They already fulfill the criteria, now they have the rules in place to their liking, they can play.
They already fulfill the criteria, now they have the rules in place to their liking, they can play.
Fascinating and informative discussion. Thank you.
Have you heard of a "Yard Sale"? Millions upon millions of people have them every week end. Yard Sale at .
It's funny how regulations try to solve the problems from the wrong side of the equation. You try to stop criminal activities AFTER the fact, rather than try to prevent them BEFORE the fact.
It's funny how regulations try to solve the problems from the wrong side of the equation. You try to stop criminal activities AFTER the fact, rather than try to prevent them BEFORE the fact.
Dont take this the wrong way, but can I see your credentials, even just in PM?
But frankly, I am not seeing FinCEN going after Bitcoin itself. I'm sure they are quite dumbfounded as to how to do such a thing. But what they can do is put pressure on any legitimate entity that hooks up to it in a formal way.
Perhaps not FinCEN, but financial reporters at anti-money laundering conferences report that the FBI is "very aware" of bitcoin, as is the SEC. The leaked FBI report on bitcoin was quite knowledgeable and matter-of-fact.
Yesterday's FinCEN guidance makes it seem more likely that LEAs would target individual criminals, rather than bitcoin network and users en masse.
Anyone doing serious money in Bitcoin will be targets of investigation going forward. Casual investors and merchant activities are not in the cross hairs that I can tell.
For purposes of regulation, it doesn't matter how the money gets to Japan. It must be monitored for money laundering activities. Dwolla will not be able to continue to escape this.
Recently, my one-person microbiz had to AML/KYC with Dwolla, to continue transferring to/from MtGox. Based on my experience and conversation with the Dwolla employee, it sounds like this is a special procedure for MtGox, that does not apply to most other dwolla users.
They definitely are doing a nice job with AML/KYC from what I can tell, but that's not going to be enough. They are going to have to register with FinCEN and seek state licensures as well. A huge undertaking. They will be ahead of the game compared to some startups. But will their partnering bank continue to allow them to use their ACH services while unlicensed?
Hard to say what will happen, but we had to know that as Bitcoin becomes more powerful, regulatory forces will step in at a rate proportional to the amount of influence it wields.
The good news, is all of us that love to use Bitcoin as individuals and want to buy or sell using them, the sky is currently clear.
But frankly, I am not seeing FinCEN going after Bitcoin itself. I'm sure they are quite dumbfounded as to how to do such a thing. But what they can do is put pressure on any legitimate entity that hooks up to it in a formal way.
Perhaps not FinCEN, but financial reporters at anti-money laundering conferences report that the FBI is "very aware" of bitcoin, as is the SEC. The leaked FBI report on bitcoin was quite knowledgeable and matter-of-fact.
Yesterday's FinCEN guidance makes it seem more likely that LEAs would target individual criminals, rather than bitcoin network and users en masse.
How long has FinCEN known about Bitcoin and been planning to regulate it?
I don't know how long FinCEN has truly considered Bitcoin a serious player, but likely not very long knowing government bureaucracy.
But frankly, I am not seeing FinCEN going after Bitcoin itself. I'm sure they are quite dumbfounded as to how to do such a thing. But what they can do is put pressure on any legitimate entity that hooks up to it in a formal way.
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