Hooligans Sportsbook

Bitcoin-based online gambling

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Andresen already said that if the govt asked him to stop what he was doing, he probably would.

No reason a filthy foreigner couldn't take over though.

I should probably short that shit again in the short term. I think it'll get worse before it gets better.
 
FreeFall
I like getting my money from Reando Andres Fernandez. I wonder what the tellers think he a white name like John Smith walks up and gets thousands from his meixcan counterpart.
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Why are tellers so fucking nosey? They are god damned tellers for fuck sake (no offense, Durito).

I've sent/received many P2P's to from bookies in Costa Rica and have never been questioned or looked at funny, not one teller I've dealt with ever seemed to give a shit about the reason why I was sending money or receiving from some 3rd world shit hole, they were more interested in getting my transaction done and getting me out of the store so they could go back to texting their bff's on their phones.

Obviously it's a US thing.
 
plommer
Why are tellers so fucking nosey? They are god damned tellers for fuck sake (no offense, Durito).

I've sent/received many P2P's to from bookies in Costa Rica and have never been questioned or looked at funny, not one teller I've dealt with ever seemed to give a shit about the reason why I was sending money or receiving from some 3rd world shit hole, they were more interested in getting my transaction done and getting me out of the store so they could go back to texting their bff's on their phones.

Obviously it's a US thing.
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nobody's ever asked me anything(when i send/receive wu, not when im working at the bank)

i usually go to the mexican supermarket though.
 
Just another bubble gum shop. Here's the warrant. http://ir.gl/cc48f2


Homeland Security used a confidential informant, based in Maryland, to conduct the investigation. The informant simply created accounts with Dwolla and Mt. Gox, bought bitcoins, and then changed them back into dollars. Tracing that money, HSI was able to see that the money passed through a Wells Fargo account, number 7657841313, which was created by a single authorized signer: Mark Karpeles, the president and CEO of Mt. Gox. The Dwolla account shows transfers to Dwolla going back to at least December 2011, according to the warrant.

The special agent then explains what appears to be the smoking gun: Karpeles specifically denied he was going to get into the currency exchange business. The warrant reads:

As part of the account opening process, Wells Fargo required Karpeles and Mutum Sigillum LLC to complete a "Money Services Business (MSB) Accounts, Identification of an MSB Customer" form. That document was completed on May 20, 2011 and identified Mutum Sigillum LLC as a business not engaged in money services. The application asks several questions; to include, "Do you deal in or exchange currency for your customer?" and "Does your business accept funds from customers and send the funds based on customers' instructions (Money Transmitter)?" Karpeles answered these questions "no," indicating that Mutum Sigillum LLC does not deal in or exchange money, and that it does not send funds based on customer instructions.

Money transmitting businesses are required by 31 USC section 5330 to register as such with FinCEN. According to FinCEN records on May 6, 2013, neither Mt. Gox nor the subsidiary, Mutum Sigillum LLC, is registered as a Money Service Business.


The agent then gives a brief description of how Mt. Gox deals in the "crypto-currency" of Bitcoin:

Mt. Gox acts as a digital currency exchange where customers open accounts and fund the respective accounts with fiat currency, which is then exchanged into crypto-currency by Mt. Gox; the crypto-currency is known as bitcoin. Fiat currency simply refers to any money that a government has declared to be legal tender. The exchange is bidirectional and allows customers to also exchange bitcoins back into fiat currency, and then withdraw those funds. The exchange of fiat currency and bitcoins incurs a floating rate fee charged by Mt. Gox and is determined by the customer's aggregate amount of funds exchanged on a monthly basis.
 
FreeFall
so what did he do wrong again?
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Didn't register with FinCEN as a money transmitter. You can't be moving large sums of cash and not catch their attention. Really it's a not an attack on bitcoins it could have been any service or company. Maybe most are not familiar but in US in the immigrant communities there are hundreds of money remittance services, some focusing in specific countries. The majority are operated legit like WU but many go under the table, I've seen a lot of them. This MtGox warrant could have been to any of them. I don't see any great conspiracy here.

Even before FinCEN pronounced themselves on the matter a couple of months ago, it was obvious that that's what he should have done. They don't imposed many restrictions, it's all mostly KYC requirements. They would have been free to operate without a problem.
 
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