"Sources said traders would have a hard time getting US dollars out of Mtgox" - page 2.

MAbtc

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Quote from: Terpie on May 14, 2013, 10:10:42 PM

This is not an attack on bitcoin, this is an attack on Mt. Gox being non-compliant with KYC/AML/Registrations requirements. DHS has seized Mt. Gox assets. They are not going to seize wire transfers from Mt. Gox to customer accounts, nor are they going to seize the assets of compliant exchanges. This episode just reiterates that bitcoin exchanges need to follow the letter of the law or the hammer is going to come down. It's a shame, really, since Mt. Gox has the cash to spend a few dollars hiring decent lawyers to ensure compliance.

Not speculating, but do not take this as a given. The feds do not put customers first. They can certainly seize incoming wires to customers, specifically for noncompliance issues, and have. Just ask UseMyWallet or eWalletXpress users. Or Full Tilt Poker players.

hmmmstrange

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When are they going to seize the mtgox.com domain name? Does mtgox have a ".bit" domain?

MonadTran

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Quote from: Terpie on May 14, 2013, 10:10:42 PM

This is not an attack on bitcoin, this is an attack on Mt. Gox being non-compliant with KYC/AML/Registrations requirements. DHS has seized Mt. Gox assets. They are not going to seize wire transfers from Mt. Gox to customer accounts, nor are they going to seize the assets of compliant exchanges. This episode just reiterates that bitcoin exchanges need to follow the letter of the law or the hammer is going to come down. It's a shame, really, since Mt. Gox has the cash to spend a few dollars hiring decent lawyers to ensure compliance.

The compliance to some stupid, perverse law imposed by a gang of thieves and murderers that is completely broke, and about to fall apart?
This is, quite obviously, an attack on Bitcoin. Compliance, ultimately, means keeping your dollars, and watching them become worthless.

Terpie

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This is not an attack on bitcoin, this is an attack on Mt. Gox being non-compliant with KYC/AML/Registrations requirements. DHS has seized Mt. Gox assets. They are not going to seize wire transfers from Mt. Gox to customer accounts, nor are they going to seize the assets of compliant exchanges. This episode just reiterates that bitcoin exchanges need to follow the letter of the law or the hammer is going to come down. It's a shame, really, since Mt. Gox has the cash to spend a few dollars hiring decent lawyers to ensure compliance.

fitty

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Quote from: N12 on May 14, 2013, 09:49:05 PM

AFAIK international wires are working fine.

AFAIK, meaning before the DHS court order on Dwolla?

Why on earth would you block Dwolla, and let MtGox use wire transfers headed to or from the USA? You can easily block those.

If you're going to block Dwolla, it makes sense you'd also block wires. Otherwise what's the point? People will just use wires, what have you really accomplished?

I certainly wouldn't send or request a wire to or from MtGox. I'd let someone else test that. You can just convert everything to coins, move it off MtGox, and get your money from another exchange. Why even risk it? The DHS is after MtGox, it makes sense to avoid the drama and just use another exchange.

bitcon

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appears dwolla is taking some heat, but gox wires usd directly to my bank are not affected. but i mostly use virwox anyways.

N12

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AFAIK international wires are working fine.

bootlace

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Justice as a Service Infrastructure

Quote from 4th paragraph of this article: http://www.nypost.com/p/news/business/crackdown_on_bitcoin_exchange_jdjp9NaLCdypnhcu6JBQLN

What does this mean exactly? Will no users in the US be able to cash out? Will this lead everyone to buy BTC and transfer somewhere else? Thoughts on how this is going to play out?

Topic: "Sources said traders would have a hard time getting US dollars out of Mtgox" - page 2. (Read 4079 times)