Quote from: Jobbernowl on June 09, 2011, 03:51:55 PM

Quote from: janice on June 09, 2011, 03:40:02 PM

If BritCoin opt to operate out of the UK, they will be bound by the UK Money Laundering Regulations: http://www.legislation.gov.uk/uksi/2007/2157/regulation/20/made

That legislation looks like it pretty neatly covers Britcoin's operations. Is there a reason for them to be exempt from needing to do all that scrutiny of customers and transactions stuff?

I think the only weak element there is the use of OpenID, where customer contact details are not explicitly requested, and the non-verification of customer identity (copy of a utility bill, driving licence, passport, etc).