Just email them directly, don't take my word for it. I'm guessing all states
it's a fake information.
Kraken is not registered as MSB in any state.Oh really?
Put in kraken into DBA name and see what is going to show up
https://www.fincen.gov/msb-registrant-searchI keep saying that by registering with FINCEN, it does NOT mean that a company is a MSB.
"Information contained on this site has been provided by the MSB registrant. FinCEN does not verify information submitted by the MSB. Information provided on this site reflects only what was provided directly to FinCEN."You can register on FINCEN website yourself... right now with any name you want.
make a try.
So, being registered with FINCEN means nothing. First a company MUST be a MSB and then to submit on Fincen.
A US company must be registered as MSB in all the states if they want to deal in all of them. See Coinbase, Gemini, Itbit, Circle. Look to their websites. You will notice something like :
https://www.coinbase.com/legal/licenseshttps://gemini.com/about/See? BIG difference between Kraken and these ones
Again, being registered on FINCEN page without being MSB = zero (outlaw, illegal)
Please show me on Kraken website(or ask them via email, phone) where they are registered as MSB
In my opinion - you got it backward.
You become MSB just by providing some types of services. Indeed, in some states you should apply for a license (but it depends on type of operations - if you check coinbase licenses - none of them were issued to conduct crypto-related operations)
So if you provide certain services - you should register with FinCen. Check out bitstamp - they are licensed in EU, registered in FinCen, but I could not find any state licenses.
Kraken provides the types of services which require to be MSB and FINCEN registration (but only in this order)
Coinbase is registered as MSB in almost all the states and this gives them the right to do many other operations not only dealing with virtual currencies. Except NY, no other state have a special license for Bitcoin (Coinbase have that special license too).
crypto-related operations= virtual currency. MSB law is referring to the virtual currency not to cryptoshit or any other name.
Each money services business (MSB) must register with the Department of the Treasury (FINCEN). Note that failure to register when required to do so or obtain necessary state licensed, can lead to jail time
Most states require money services businesses operating within their territory to be licensed with the state banking department. Note that many states also require registration of foreign MSBs that transact with their residents. For example, money transmitters with
no physical presence in Texas that transact with residents of Texas must be licensed in the State of Texas; same with all the other states.
FiNCEN describes very well the exchangers status for so called decentralized virtual currencies.
" a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency."https://www.fincen.gov/resources/statutes-regulations/guidance/application-fincens-regulations-persons-administeringSo, the point that many people are sustaining (without knowledge about the law) that Kraken is registered with FINCEN and it's enough, it's sci-fi, bullshit, etc
of course, there are many other exchangers like Kraken.