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Questions tagged [aml]

Anti-money laundering

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2 votes
1 answer
95 views

Why is a whale moving so many bitcoin permanently? [closed]

A whale moved $2bn in bitcoin 540 times in a short time frame. On Sep 10 someone consolidated bitcoin from 829 addresses into address 32ZHZYwYATJj8jtoFvUQ9HEz7UoWnLgG5U then he moved according to my ...
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  • 191
0 votes
0 answers
94 views

What is it that frees Bisq from all these KYC/AML laws and regulations?

I feel as if I should probably not ask about this, and instead just quietly go on using it in my little corner, not bringing any attention to its existence, but I still must ask: What is it that ...
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1 vote
1 answer
67 views

How can I earn an income from my bitcoins without revealing my identity or relinquishing control of my bitcoins? [duplicate]

I have some Bitcoin. I don't want to part with them, but I need an income. I'm trying to have it so that, somehow, my Bitcoins generate a small sum monthly in fiat, to my bank account. While going ...
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  • 11
1 vote
1 answer
154 views

Can I cash out Bitcoin without proof of provenance?

I have around 25 BTC from back when Bitcoin was around 10$ or lower. At the time, a friend sent them to me and I never thought they would ever be worth much. Since that time, I've moved them around ...
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1 vote
1 answer
55 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 ...
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  • 181
2 votes
0 answers
457 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 ...
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1 vote
1 answer
89 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 ...
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  • 11
13 votes
5 answers
263 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 ...
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4 votes
3 answers
4k views

Why do most trading platforms require ID Verification?

The vast majority of the Bitcoin trading platforms both in the US and the UK require some sort of ID verification in order to make Deposits/Withdrawals. Is this because of these two countries current ...
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1 vote
1 answer
192 views

Which KYC solution providers are used by Bitcoin companies?

I am wondering which Know Your Client solution providers are used by Bitcoin companies?
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  • 42.7k
2 votes
1 answer
257 views

How would AML techniques work in Ripple?

Can anyone explain how AML rules, alerting, and FinCEN reporting would work under Ripple?
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2 votes
1 answer
175 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 ...
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7 votes
4 answers
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 ( ...
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  • 654
2 votes
3 answers
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, ...
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  • 115
0 votes
1 answer
148 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 ...
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1 vote
1 answer
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 ...
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  • 21
5 votes
1 answer
496 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 ...
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5 votes
1 answer
248 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 ...
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8 votes
3 answers
808 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 ...
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3 votes
1 answer
167 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 ...
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2 votes
1 answer
99 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 ...
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  • 5,240
3 votes
0 answers
170 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 ...
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4 votes
1 answer
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....
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10 votes
4 answers
3k 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 ...
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