Dear Community,

Good news, we are happy to report that all users utilizing SWIFT are doing so on legal grounds by Canadian Law.  We are also happy to report we are prohibited from registering as an MSB and as such not needing to comply with  FINTRAC (Financial Crimes Canada) through our Canadian company re:reporting transactions.  We are prohibited from reporting transactions of any type.  Purchases of digital tokens to be used on a Decentralized Productivity Network are not considered "currency transfer".   This is good news to all SWIFT users and for our registered company.

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•       Foreign exchange dealing (conducting transactions where you exchange one type of fiat currency for another fiat currency);

•       Remitting or transmitting funds by any means or through any person, entity or electronic funds transfer network; or

•       Issuing or redeeming money orders, traveller's cheques or other similar negotiable instruments (except for cheques payable to a named person or entity).

Unless you are carrying out any of the services listed above, you cannot, at this time, be registered with us as an MSB. Based on the information you have provided, namely that “The customers can buy digital  tokens which allow them to use software applications on the network"  The service that you are providing does not correspond to the “remitting or transmitting funds by any means or through any person, entity or electronic funds transfer network” which we call “electronic funds transfer”. An electronic funds transfer means the transmission of instructions for the money transfer of funds to or from Canada. It does not include the instructions for the money transfer of funds from one place in Canada to another place in Canada. The action of your customers buying tokens does not constitute an electronic funds transfer in the context of our Act and associated Regulations. Therefore, at this time, it appears that you are not engaged in the business of providing MSB services. You cannot register with us.
 
We encourage you to check the FINTRAC website regularly for information on the status of regulations and the need for virtual currency businesses to register as MSBs in Canada.
 
I trust this information will be of assistance.
 
Best regards,
 
XXXXXXXXXXX

Compliance Officer
Regional Operations

We want to ensure our users our safe, as well as our company is operating within legal limits.  Looks like we are all golden.

Lets do this!



-BitSwift

100k++ sats incoming!!!

Evening all

Just to let you know that we'll be maintaining a record of accounts for the Blocknet here: http://wiki.blocknet.co/index.php/Record_of_Accounts.

Heavy Volume and price just goes nowhere, what the hell is going on?  
Could it be just whales playing ping-pong?

Sadly, lots of people in crypto are very short-sighted and can't hold a coin longer than a day if it's not moving. No worries, with what is planned for Quicksilver we won't be at ICO price forever, and the people dumping for a loss now will be the ones distressed.

Can you add buysupport at 5k please. It's more fair, people can sell if they. Ty.

Excuse me, did not sell the coin over how to deal with?

A nice Buywall at 8.1k =)  38 BTC!, do i smell a BOB collector!

The dev is creating a buy wall at 800 sats once the IPO funds are release. Stop trying to get people to panic. Anyone selling right now is stupid. At least wait until the buy wall is up and pull out at 800 sats...we dont need you here anyways

price down right after launch
this doesnt look too promising