Post
Topic
Board Legal
Re: Mt.Gox Multi-plaintiff Suit
by
repentance
on 22/02/2014, 21:46:32 UTC
AFAIK all attempts of legal action against MtGox in the US to get USD out have failed, and to this day I haven't got a proper explanation of why all the attempts have failed.

Mark's comment that a US court isn't going to order MtGox to do something they're not allowed to do under US law probably has some merit.  He's being an ass about it but no court can force the financial institutions with which MtGox deals to allow them to move unlimited amounts of USD, when those limits are a result of compliance with US law. 

MtGox should probably have just abandoned the USD market altogether as their "workarounds" never pan out and they keep opening themselves up to more and more potential consequences by continuing to serve that market.  Unfortunately, the very real limitations imposed on USD transactions due to compliance with various AML laws and treaties also benefit companies wishing to hide their financial instability.