Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
hey, what about this:
Is Finex accepting US clients? That's dangerous.
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RELEASE: PR7380-16 June 2, 2016
CFTC Orders Bitcoin Exchange Bitfinex to Pay $75,000 for Offering Illegal Off-Exchange Financed Retail Commodity Transactions and Failing to Register as a Futures Commission Merchant
http://www.cftc.gov/PressRoom/PressReleases/pr7380-16
CFTC Orders Bitcoin Exchange Bitfinex to Pay $75,000 for Offering Illegal Off-Exchange Financed Retail Commodity Transactions and Failing to Register as a Futures Commission Merchant
http://www.cftc.gov/PressRoom/PressReleases/pr7380-16
Is Finex accepting US clients? That's dangerous.
We do accept US clients and have settled any alleged violations with the CFTC, made the changes required to become compliant and US customers can deposit fiat, trade on margin, and withdraw fiat same as before.
Don't mind me asking, but can you prove that you are "Director of Community & Product Dev. @Bitfinex.com" ?
Sure, how would you like me to go about that? You can look at my history and i think it's pretty clear that I am who I say I am. But i'll post a comment in https://www.reddit.com/r/BitcoinMarkets/comments/4mlujc/daily_discussion_sunday_june_05_2016/ with my verified reddit account.
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Acorrding to Fincen, you need to be a licensed MSB in each state from USA if you want to accept US clients;
This isn't entirely true, there are different ways you can go about it. For example, itBit doesn't have an MSB for every state but are able to accept US customers because they have a bank charter. As such we have addressed this issue a manner so that we remain compliant without going state by state getting MSB's.
could you please provide that "bank charter" for your company? the product you offer(in your case, products) has to be owned by the bank to get the 50 States MSB exemption. also, if you get a trust charter in New York it doesn mean you qualify for all the STATES (and you accept clients from all USA).
The laws that permit banks to open branches in other states through nationwide reciprocity don't fit the operational model of "Bitcoin exchanger" or even a trust charter.
Example :Louisiana, requires an out-of-state bank to be a "federally insured depository" institution to qualify for a licensing exemption.
Also, you operate in EU where a financial license is mandatory as well. Do you have a such license for European Union (as...Circle) ?
On your website, it's saying "a) where you are a U.S. Person, BFXNA Inc.
BFXNA = a BVI company
BVI is a country who requires a financial license for your kind of activity. I did not find your company along BVI Financial Services Commission's list. Why?
How can you have a bank charter in USA when your company is registered in BVI? If you own a trust/bank charter in USA you are require by the banking laws to provide this information on your website(in a visible place). I don't wanna go in details and to mention that you don't have any physical address on your website. A bank charter without office
Please provide the proof for your words: "As such we have addressed this issue a manner so that we remain compliant without going state by state getting MSB's"