Questions tagged [fincen]
10 questions
18
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7 answers
Do USA-based miners need to register with FinCEN?
As seen in recent news, FinCEN has issued a statement on its classification of virtual currencies: http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html
Hypothetically suppose I mine BTC and sell it on MtGox for USD. Do I need to…
Streblo
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When should an individual or business file a SAR with FinCen?
In the United States, both Individuals and Businesses are required to file a Suspicious Activity Report (SAR) with FinCen when:
Individuals who transport more than $10,000 into or out of the United States1
Shippers and receivers involved in the…
makerofthings7
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Does an exchange of only virtual currencies fall under FinCEN regulations?
If a business only exchanges between say bitcoin, litecoin and namecoin. No fiat currencies. Does it still fall under finCEN's regulations?
Sunjen
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Do US based exchanges need to file as an MSB with FinCen?
What other legal requirements are there and what are the costs of compliance?
Shamoon
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Do bitcoin exchanges based outside of the US who serve US customers have to register with FinCEN as MSBs?
From what I understand, Bitstamp is not registered with FinCEN, whereas Mt.Gox is, does this mean Bitstamp is in danger of being shut down?
user9034
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Do private people mining or exchanging Bitcoin with Fiat fall under FINCEN's definition of "user"?
Fincen's March 2013 report defines:
A user is a person that obtains virtual currency to purchase goods or services.
An exchanger is a person engaged as a business in the exchange of virtual currency for real currency, funds, or other virtual…
ripper234
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Is the BTC-e shutdown legal?
The FinCen, dependent of the Deparment of Treasury shut down the BTC-e exchange and prosecuted for:
Violation of anti-money laundering (AML) laws;
Acts of money laundering such as the MtGox scandal related with BTC-e
Requirements to register the…
nelruk
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Does this FinCEN Document mean the Bitcoin Network is a bank?
Read this document and see if you think they are talking about Bitcoin.
Here's an excerpt..
Any individual or group of people engaged in conducting, controlling, directing or owning an informal value transfer system in the United States is…
Power ATM
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Need an explanation as to why the exchange of BTC for USD is legal
Many have asked if the exchange of BTC for USD is legal, and they will cry "legal" and simultaneously cite FinCEN's regulations for a MSB.
However, they never explain if an individual trading BTC for USD (at, say, Mt. Gox or something of the like)…
0
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1 answer
Is it illegal to trade Bitcoin OTC in the United States
I am considering selling Bitcoin OTC. As far as the legalities go, is it legal to anonymously trade Bitcoin for cash without taking KYC information and registering with FinCEN? I know all the "big boys" like Gox require information but I am…
nooocoin999
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