Quote from: mayax on July 30, 2017, 08:13:30 PM

Quote from: mamaya on July 30, 2017, 08:08:56 PM

Quote from: mayax on July 30, 2017, 08:01:01 PM

Quote from: mamaya on July 30, 2017, 07:51:23 PM

Quote from: mayax on July 30, 2017, 07:37:15 PM

Quote from: JohnBitCo on July 30, 2017, 05:55:57 PM

Quote from: fred dave on July 30, 2017, 05:41:45 PM

The domain is seized bu US authorities, it seems that it will be the bigger lesson for the unlicensed exchangers worldwide and especially Poloniex

Is poloniex unlicensed ? while its containment any exchanges I'll see him about the same thing with the exchanges that you have to look out for is manipulation of the withdrawal and deposit limits. Need to be careful while using exchanges.

YES, poloniex is unlicensed and it's based in USA;same as Kraken.

Poloniex doesn't have the New York bitlicense or any money transmitting license which is why it operates without fiat but it is a US licensed company that complies with KYC and money laundering regulation.

The law says otherwise : a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency.

So, Poloniex is running an illegal business according to FINCEN.

Poloniex is registered with FINCEN, if you think they are running an illegal business you should ask them why they gave them an MSB license.

The key difference is that they are a money services business but are not considered a money transmitter as they never handle fiat.

I keep saying that by registering with FINCEN, it does NOT mean that a company is a MSB.

FINCEN website:

"Information contained on this site has been provided by the MSB registrant. FinCEN does not verify information submitted by the MSB. Information provided on this site reflects only what was provided directly to FinCEN."

You can register on FINCEN website yourself... right now with any name you want. make a try.

So, being registered with FINCEN means nothing. First a company MUST be a MSB and then to submit on Fincen website.

A US company must be registered as MSB in all the states if they want to deal/trade/do business in all of them. See Coinbase, Gemini, Itbit. Look to their websites. You will notice something like :

https://www.coinbase.com/legal/licenses

https://gemini.com/about/

See? BIG difference between Kraken, Poloniex and similar others and these ones

Again, being registered on FINCEN page without being MSB = zero

Theres also a big difference between kraken, poloniex and similar ones compared to btc-e.

These exchanges changed a lot about KYC over the years and you can be quite sure that this has everything to do with complying to laws.