Quote from: ibitbuys on July 29, 2014, 02:14:57 PM

WU is the biggest money transmitter in the world.

So just by being an agent you share their 'license' to transmit money around the world and receive.

Does anyone know if this satisfies the US Fed rule to be a licensed money transmitter? WU sales material states,

https://www.wu.com/AL/en/faq-become-agent.html

Do I need to have a specific licence and will I be regulated?

Yes, but Western Union will handle this for you.

So technically if you have a business and register with WU as an agent, you fall under their license and should not have to register again to satisfy bs Fed rules.

WU is the established money/wire transmitter around the world, so if you offer as part of a business exchange services, you should be able to take and send money for btc as a licensed agent of WU.

Anyone seeing my point here?

Sure WU is expensive but once you are in the umbrella protection as an 'agent', you can then take checks and money and whatever for btc, and guess what you are an AGENT of the biggest money transmitter in the world.

So WU agent status makes an agent a defacto money transmitter.

IMO

Anyone else seeing this the same way.

I can see WU getting 100K new agents if this is the answer to all the bs regulations going on, you put that WU agent number on your site and you are 100% legit to the feds.

Bitcoin is just a new currency, you can take any type of currency you want around the world as a WU agent, take and receive in USD, GBP, Euro, Yen, whatever right.

So just join WU and be part of the largest network of money transmitters around, then a client can choose, wire me money, send a check, go to WU or send me gold bullion or I'm here bring your cash.

No.