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Questions tagged [aml]

Anti-money laundering

1
vote
1answer
49 views

Online Store in Cheyenne, Wyoming Accepting Bitcoin for Payment

Can an online store located in Cheyenne, Wyoming accept bitcoin as payment for goods from customers in either Wyoming, or other states or countries, without collecting every customers Social Security ...
2
votes
0answers
417 views

How do exchanges like ShapeShift, Changelly or Evercoin cope with KYC/AML regulation?

They don't require any information about their users. Most of the exchanges require user identification: so even though exchanges like ShapeShift might have corporate account on the large exchanges ...
1
vote
1answer
85 views

Technological contractor for an ICO legal advise

I was recently offered to hire my services to create and maintain a cryptocurrency. My responsibilities would be to create a website and issue the tokens While I think the project as some merit, I am ...
11
votes
3answers
188 views

Privacy friendly payment processor

What is the most reputable Bitcoin payment processor that has privacy friendly terms and conditions? BitPay and Coinbase are known to have used chain analysis to spy on customers. What are the ...
1
vote
1answer
180 views

Which KYC solution providers are used by Bitcoin companies?

I am wondering which Know Your Client solution providers are used by Bitcoin companies?
2
votes
1answer
243 views

How would AML techniques work in Ripple?

Can anyone explain how AML rules, alerting, and FinCEN reporting would work under Ripple?
2
votes
1answer
158 views

Does this FinCEN Document mean the Bitcoin Network is a bank?

Read this document and see if you think they are talking about Bitcoin. Here's an excerpt.. Any individual or group of people engaged in conducting, controlling, directing or owning an informal ...
7
votes
4answers
3k views

is it possible to launder bitcoin by exchanging it for litecoin and then back to bitcoin?

The scenario I was thinking of was I have some bitcoin from doing Bad Things (TM) that I want to launder. I could register with kraken.com and trade only virtual currencies with the L1 verification ( ...
2
votes
3answers
1k views

What qualifies as proof of residency for AML in the USA?

I am in a unique situation of not owning or renting property and no need for utilities. I've tried to contact several exchanges to find out what are all the acceptable forms of proof of residency, ...
0
votes
1answer
145 views

AML laws seem to be very erratically enforced

It seems that only MtGox actually enforces them. Are they now a PSP or bank? MtGox says the reason they prohibit wallet-to-wallet bitcoin transfers (yes, they are prohibiting for unverified accounts ...
1
vote
1answer
4k views

How to open a corporate account on Bitstamp?

I am trying to open a corporate account on Bitstamp, but there are so many questions to answer, is there any easy way to get approved? How are you supposed to answer: Is your business regulated for ...
5
votes
1answer
487 views

Law / country specifics to start Ripple Gateway

There is requirement in https://ripple.com/wiki/Gateway_Integration_Manual Gateways should comply with the BSA, have AML policies and require KYC information. As i understand this requirements can be ...
5
votes
1answer
228 views

What aspects of Money Order laws will apply to merchants who use Bitcoin?

There are several money order laws that apply to merchants who accept them. Bitcoin seems to have properties of a money order, but also some aspects of value that are driven by demand. I'm looking ...
8
votes
3answers
705 views

When should an individual or business file a SAR with FinCen?

In the United States, both Individuals and Businesses are required to file a Suspicious Activity Report (SAR) with FinCen when: Individuals who transport more than $10,000 into or out of the United ...
3
votes
1answer
161 views

Is it acceptable / encouraged to ask for ID and keep a photocopy for OTC Bitcoin transactions?

Suppose a business wants to get into the OTC Bitcoin business. It will need to comply with AML laws. It is acceptable / encouraged for such a business to ask for photo ID and keep a photocopy? Does ...
2
votes
1answer
93 views

Might AML regulations have to be applied to unofficial currencies sites in EU?

Is there any AML regulation in EU countries which might have to be applied to unofficial currencies, such as Bitcoins? I guess usually they only apply to state-backed currencies, but since Bitcoins ...
3
votes
0answers
165 views

What additional actions should an ethical Bitcoin-related business take with each transaction?

I'm considering starting an ethical business for users that accepts Bitcoin as a payment. My intent is to abide by all laws and interpret them in an appropriate manner. My intent is to abide by ...
4
votes
1answer
2k views

To use Dwolla with Mt. Gox I need to become Verified. Do I need Apostille?

Mt. Gox now requires at least Level 1 Verified in order to deposit or withdraw Dwolla funds. Level 1 says Government Photo ID + utility bill http://en.bitcoin.it/wiki/MtGox#AML https://support.mtgox....
10
votes
3answers
2k views

Which exchanges are Tor-friendly?

Mt. Gox's sign-up page states: Please be advised that accessing your account via the Tor network and/or public proxies may result in a temporary suspension of your account, and having to submit ...