I have even tried to start the paper work with FINTRAC so that I can register as a MSB here in Canada (the Canadian regulations do not appear to have the $1000/day exemption the US regulations do). If successful, I may buy low on the exchange, then sell slightly higher at locabitcoins. I have to be cautions, because, if I try it without informing my bank, they will probably close my account (when setting it up, I estimated 1-2 Bitcoin transactions per month, not 20-30).
http://www.fintrac-canafe.gc.ca/publications/typologies/2010-07-eng.asp#f10http://www.fintrac-canafe.gc.ca/publications/typologies/2010-07-eng.asp#f1110 FINTRAC receives electronic funds transfers reports on orders of international wire transfers of CAD $10,000 and more, which are referred to as "EFT's" in this report. It also receives information regarding domestic wire transfers, reported in suspicious transaction reports (STRs), which are referred to as "wire transfers" in this report.
Footnote 11 Suspicious transaction reports (STRs) can be filed on any transaction regardless of the value of the transaction.
i have found that no matter what country or regulations.. exchanges misinterpret the rules and add in their own limits for their(exchanges) internal policy handbooks.
i have seen some exchanges make report/ have flags for amounts exceeding $800 in one month, simply because multiplying it by 12 brings them to the yearly limit of $10k.
other flags such as trying to do $799. at the last day of one month and $799 at the first day of the next hits other flags.
the problem is not necessarily the AMLKYC rules themselves as there is nothing illegal about doing over $10k, as long as the customer explains why and its recorded.
but exchanges dont want the hassle thus they simply cut people off.
i and many other whales would love to throw larger amounts at exchanges, if only exchanges were rational..
for me, exchanges are like mtgox in january.. simply playing with mysql databases..
after all this time last year when mtgox was working properly it was doing 150-170k volume, right now mtgox's competitor of last year (btc-e) is doing les than 20k volume. and of that 20k very little is a result of actual bank account movements