Quote from: Coinbuck @ BTCLot on May 22, 2013, 08:02:35 PM

Quote from: Nova! on May 22, 2013, 08:26:02 AM

So be careful, not properly registering as a Money Service Business, Money Transmitter, Bank or Financial institution is why these exchanges including MtGox keep getting shut down and seized by the authorities. It's not like there is some huge conspiracy against them, it's just laziness on the part of the owners.

Mt.Gox wasn't shut down/seized by authorities. Pure FUD.

Their Dwolla account was locked. Dwolla account locked != shutdown/seized.

It's not FUD. If you read the full text of the warrant, their wells fargo bank account was seized as well as their dwolla account. It was seized because they failed to register as an MSB with the US Treasury department and then they declared under penalty of perjury that they WERE NOT engaging in international transfers of money.
This bank account was owned buy Muttim Siggilum and opened by the founder of MtGox. It was the final destination for US funds from Dwolla.

MtGox at this time has no authority to operate within in the USA. This would not be a big deal except that their owners are in fact in the USA, the japanese entity is according to my understanding just a shell.

I can sort of understand how they might in fact declare it, after all MS was not itself engaging in international transfers of money.
Their problem is that the US Treasury department disagrees with that assertion. MtGox vouchers are proof that they were engaging in money xfr and not just functioning as an exchanger. Unfortunately, now they will be spending the next several years sorting it out.

This thread isn't about MtGox though. It's about OKPay.

Don't read me wrong here I actually like OKPay.
They provide an extremely valuable service and appear to have been around for awhile.
However considering the amount of documentation they require to validate an account, and considering the fact that you cannot make any sort of spend, xfr or withdrawl without providing documents in sufficient quantity and quality to pull off complete identity theft and considering that those documents and the way they are asking for them is not sufficient to comply with any Know Your Customer anti-money laundering initiatives that I am aware of. I think it is prudent for anyone, especially new customers, to perform their own due diligence prior to depositing any funds.

Even if they are an awesome company with a stellar reputation, the fact is they do not appear to be registered with the entity they claim to be regulated by. That is a serious red flag. The other serious red flag is that they stubbornly refuse to provide any sort of information that could actually be used to perform due diligence on them.
So again, everything may in fact be fine, but be careful.