Quote from: Gleb Gamow on February 16, 2016, 07:11:04 AM

Quote from: GoldSeal on February 16, 2016, 06:56:54 AM

Quote from: Gleb Gamow on February 16, 2016, 05:54:41 AM

Quote from: DrxGxr on February 16, 2016, 03:32:31 AM

https://www.youtube.com/watch?v=WyvIhH1xntY

"Deep down in places you don't talk about at parties, Cryptsy simply went over that wall."

The CEA is not applicable to Cryptsy.

FinCEN regulations would require fiat funds for customers to be segregated. However, digital currencies are unlikely to be treated in the same manner.

https://bitcoinmagazine.com/articles/fincen-bitcoin-users-not-regulated-exchanges-are-1363675774

Quote

The paper starts off delineating a clear definition of what virtual currency is: FinCENs regulations define currency (also referred to as real currency) as the coin and paper money of the United States or of any other country that is designated as legal tender and that [ii] circulates and [iii] is customarily used and accepted as a medium of exchange in the country of issuance. In contrast to real currency, virtual currency is a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency. In particular, virtual currency does not have legal tender status in any jurisdiction. It then breaks digital currencies down into three forms: e-currencies and e-precious metals, centralized digital currencies and decentralized digital currencies. Although the document does not explicity define an e-currency and what differentiates it from any other virtual currency, a footnote makes the likely intended meaning clear: Typically, this involves the broker or dealer electronically distributing digital certificates of ownership of real currencies or precious metals, with the digital certificate being the virtual currency. That is, e-currencies are essentially certificates for what FINCEN calls real currencies that is, currencies that are, somewhere in the world, legal tender. Centralized virtual currencies are digital currencies that have a centralized repository; this is likely intended as a catch-all term for any virtual currencies which are not simply tokens for real currency or precious metals but rather a currency in their own right, Second Lifes Linden dollars is perhaps the existing canonical example, although a hypothetical Bitcoin-like unbacked currency backed by a central repository would also fall into the scope. Finally, there are decentralized digital currencies. A decentralized digital currency is one (1) that has no central repository and no single administrator , and (2) that persons may obtain by their own computing or manufacturing effort Bitcoin being right in the crosshairs. Interestingly, Ripple fits one half of the definition but not the other although Ripple itself is decentralized, or at least will be once the server is released, all 100 billion XRP that will ever exist have already been created. If Ripple succeeds, perhaps FINCEN will be forced to release yet another clarifying guidance paper in two years time.

I'm such a fuckin' idiot! I mistaken Cryptsy accepting and remitting fiat for blueberries.

you must have cabin fever