Post
Topic
Board Service Discussion
Re: CoinLab suing MtGox for $75 milliion?
by
tumak
on 03/05/2013, 16:53:49 UTC
Well, according to CoinLab http://coinlab.com/press

Quote from: CoinLab
As an established player in the North American Bitcoin industry—registered and fully compliant with the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN)— CoinLab provided Mt. Gox with U.S. financial and investment partnerships necessary to drive more U.S. volume and pave the way for institutional investors and high net-worth individuals to buy and hold large amounts of the digital currency.

Oh, the hilarity:

Quote from: Coinlab
The Agreement further provides for a transition period whereby United States and Canadian customers are transitioned from Mt. Gox to CoinLab by March 22, 2013. Mt. Gox isrequired to cooperate with CoinLab to transfer North American customers, defined as “CoinLabCustomers” in the Agreement, from Mt. Gox to CoinLab.28.

Quote from: Forbes
CoinLab took the step last week of registering with FinCEN to become a Money Services Business (MSB) and their entity and registration number are available here. Since they are a self-declared seller of prepaid access (MSB code 413), they now must comply with a litany of Bank Secrecy Act requirements, including Suspicious Activity Reporting.

http://www.forbes.com/sites/jonmatonis/2013/03/02/bitcoin-exchange-deal-repatriates-assets-to-u-s/

It's a trap?