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Are you sure about this? It was my understanding that MtGox meets the legal requirements of its jurisdiction (Japan), and I know they require identity verifica
by jontas 13y ago
Are you sure about this? It was my understanding that MtGox meets the legal requirements of its jurisdiction (Japan), and I know they require identity verification depending on how much money you're moving around(1).
What I would like to know definitively is whether MtGox is openly flaunting the rules, or is just doing their best to operate in a legally untested area.
1. https://support.mtgox.com/entries/20919111-AML-Account-Statuses https://support.mtgox.com/entries/20919111-AML-Account-Statu...
- Torgo 13y agoWell, AFAIK they didn't seize MtGox LLC's money per se, they seized the accounts of Mutum Sigillum, which appears to be a subsidiary company in the USA set up to facilitate transfers through Dwolla which only offers services to US entities.
- jonknee 13y agoIt doesn't matter if they meet Japan's rules as long as they have US customers. Liberty Reserve was not a US company either...
- sliverstorm 13y agoYup, hardly sufficient to operate in the USA under Japan's rules. For the same reasons you are subject to the local laws when visiting another country; their roof, their rules.