Quote from: BIGBullion on October 13, 2014, 02:13:20 PM

Just a quick update on our efforts to become fully registered:

1) We are compliant with the KYC/AML laws in place that are required. This is why there is an SSL encrypted registration page for swapping coins for bullion.
2) The SEC agreed with our "No Action" stance on the coin and its construction as an investment vehicle.
3) We are in compliance with the IRS - When swapping coin for bullion you will receive a 1099. That is why we had to have your SS number.
4) The CFTC remains a thorn in our side. This is the last step in being a fully recognized crypto investment. We have to register as a SWAP execution facility and have our
investment vehicle (BIG) registered as a swap eligible commodity vehicle.

- This process, its 23 page application, and the CFTC itself has proven quite difficult and to me is a lot like the old testament ...
Lots of pain and suffering and very little redemption....

Ok with all of that being said we are still moving forward with:
* The new QT - which is now almost ready to release. There have been lots of bumps in the road merging several versions of the Bitcoin core, but it will soon be published.
* Still working on Big Vern at Cryptsy. Those guys are waiting on our new wallet before giving us serious consideration.
* Mac and linux wallet are waiting on the newest core.
* Last but definitely not least: Bullion reserve updates and SWAP process:
- If the CFTC delays or does not give us the green light on swapping BIG for bullion we will still continue to back it, but we will have to wait until approved by them to complete any swaps. This means that if they (CFTC) do not act quickly then we will not be able to swap any bullion for coin in November as originally planned. I know this sucks and it's not what we want to happen either, but in order for us to make BIG huge we have to play by the rules with no exceptions. We will keep everyone posted as things develop.

Thanks for the update. Looking forward to the new wallet. Hope there is a difficulty retarget that will stop Multipools raising it high and then leaving.
Not worried about Cryptsy as don't use it any more but they would bring more volume I imagine.
Nice to see the progress with the govt bodies. I know things can move slower than we in crypto land would like.
All a step in the right direction.