Ninjastic
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Re: CoinLab suing MtGox for $75 milliion?
by
ArticMine
on 03/05/2013, 19:03:10 UTC
Quote from: jgarzik on May 03, 2013, 03:59:00 PM
Quote from: tumak on May 03, 2013, 03:46:00 PM
Other theory:

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

Under some interpretation, Coinlab would have to pay $15M to get the govt license. They don't have that kind of capital, at least officially.

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.

Being compliant in the United States alone is not enough they also have to be compliant in Canada.  As far as I can see Coinlab has made no representations that they are compliant in Canada.