Quote from: TraderTimm on November 10, 2014, 06:09:28 PM

Quote from: havelock on November 09, 2014, 11:13:46 PM

What about located and regulated in Panama is so hard to understand? Nothing to do with SEC we are regulated by the SMV. Erik is a US citizen.

Guilt by association. Any exchange that solicits or permits US customers to transact business, which you in turn facilitate, means you're on the hook too, even if you don't think you are.

But what the hell am I doing, debating some virtual "service provider" about how they're about to get the hammer. Go ahead, keep doing what you're doing, I'll laugh at the headlines later.

So in order to do cryptobusiness one will have to expatriate from the U.S.A. and renounce citizenship? Sounds like a good deal to me.

Wait a minute.. looks like I don't need to expatriate. Small time guys with less than a total of 10k in foreign bank accounts do not have to file an FBAR aka FINCEN 114. Over 10k, you have to file a FINCEN 114. Over 50k you have to comply with FATCA.

As long as you are legit and not selling dope, you should be in good order.