Quote from: ab8989 on August 12, 2013, 05:59:37 PM

Quote from: zeroblock on August 12, 2013, 05:32:55 PM

No. What Karpeles is confirming is that the USD withdraws are being halted by the US gov. NOT due to problems with Mt.Gox's banking connections, which they have used as an excuse the last 2 months. This essentially means that USD withdraws will not resume for quite some time, if ever.

These two explanations can both be true at the same time so I don't see a big controversy here.

My personal guess is that the problems arrived when Gox registered as a money transmitter at the federal level, but they lack the necessary licensing from state level.

Before they were not registered as a money transmitter they could fly under the radar for some of the banks as some kind of strange business selling some bits on the net. Now that they are officially money transmitter that explanation does not fly anymore but since they do not have licensing to operate as such no bank wants to touch their business with a ten foot pole and it gets more difficult each day as they seem like a very untrustworthy unlicensed money transmitter.

Their immediate problem is that they cannot find a bank that wants to do USD based business with an unlicensed money transmitter.

Their problems stem from incompetency, not because the registered as an MSB with FinCEN. Their immediate problem is also their relatively permanent problem. Not only will it take at least a year to get their Money transmitter licenses in all 50 states, but they exchanged liberty reserve dollars, and they have a $75MM lawsuit over their heads. Good luck having a US bank willing to take on that kind of risk... ever.