Quote from: Guerilla on March 08, 2014, 10:44:13 AM

Quote from: Mikellev on March 08, 2014, 10:37:47 AM

Quote from: parker_101 on March 08, 2014, 10:37:07 AM

Btw I heard Coinpayments.com is shutting down on March 31. Might need to start looking for a replacement.

wtf ? any info on that ?

Email I received earlier today:

Hello Guerilla,

It is with a heavy heart that we have to announce the closure of CoinPayments.net. FinCEN has ruled that Bitcoin is in their purview which would make us a money transmitter. We simply do not have the resources to register with FinCEN and most of the 50 states as a MSB and comply with all of the AML/KYC laws (and no realistic way to raise the funds to do so.)

The shutdown will happen in 3 stages:
1. We will stop accepting new user registrations effective immediately.
2. We will stop processing new transactions at 11:59:59 PM EST on March 24, 2014 (transactions already in progress at that time will be completed).
3. The website will otherwise remain operational until 11:59:59 PM EST on March 31st, 2014 when it will be shut down.

Any refunds due must be requested by the end of March 31st, 2014 and any funds held in your account withdrawn. Keeping the website open for a week from the last new transaction should give everyone ample time to wrap up their affairs in the site.

We extend our sincerest apologies to you and everyone else who has relied on CoinPayments for over 7 months,
MrData & pr0d1gy
CoinPayments.net

Assuming Fincen is USA.

Why can't coinpayment register in another country to avoid the regulations, expensive, designed to prevent new competitors by protecting present ones.

Another example of how fecking expensive socialists regulations destroys businesses and jobs.

As usual politicians are flaming idiots.