Quote from: zanetackett on June 07, 2016, 04:19:34 PM

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Quote from: zanetackett on June 05, 2016, 09:34:41 AM

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Quote from: [Suspicious link removed] on June 02, 2016, 08:20:48 PM

hey, what about this:

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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

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 Huh

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"

I never said we had a bank charter, you just jumped to that conclusion without reading the next sentence. I said that there is more than one way to approach regulation as opposed to you stating that the only way to be compliant is going state by state getting MSBs and then gave you an example.

As for asking for proof about being compliant, go read the settlement and order from the CFTC, then go read our ToS, and you can decide for yourself if you think we've done enough to be compliant. For a good idea of the context of the settlement and a bigger view I would suggest reading this: http://www.coindesk.com/cftc-bitfinex-enforcement-bitcoin-exchanges/

If you'd like to have a civil conversation i'm more than happy to, if you just want to ramble without actually reading what I write go for it, but I'm not going to waste my time responding.

You said : " As such we have addressed this issue a manner so that we remain compliant without going state by state getting MSB's."[/i]

What's your solution to be compliant (approach regulation) with the US laws while you don't have a bank charter and you are not a MSB?

CFTC has no attribution related to MSB. You may be compliant now with CFTC but you are not with FINCEN and with the Bank Secrecy Act who is requiring you to have a financial license in each state you operate(you have clients).
You are in the business of selling, buying, and exchanging bitcoin and you definitely need an MSB license.

My questions were simple but you avoid to answer. It is a civil conversation. I am smiling and I am asking you friendly :

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?

Last frindly question

: do you have any financial license in any country that allows you to run your financial business?

Your clients must know what company they are using, if that company is in good standing and compliant with everything. It's not something rude from my part to ask NORMAL questions.

Thank you !