Mt Gox

2013-10-01 Crypto-Timeline

Here is a log with relevant legal, regulatory, law enforcement and business risk milestones in the crypto-currency race to maturity with links to trusted sources.

The  Key September 2013 Crypto-Events were:

• 9/5/2013 – United Kingdom debates Bitcoin regulation
• 9/6/2013 – Satoshidice recovers from series of DDoS attacks
• 9/11/2013 – Rogue transaction cripples casual Bitcoin software users
• 9/13/2013 – Mt.Gox answers Coinlab’s complaint with a vengeance
• 9/19/2013 – Swiss politician is both puzzled and concerned about Bitcoin’s risks and potential
• 9/20/2013 – Singapore’s Monetary Authority cautions consumers against bitcoin trading
• 9/20/2013 – Canadian Royal Mint to test ‘MintChip’ payment system
• 9/23/2013 – Virtual stock markets btct.co and litecoinglobal.com shut down due to regulatory environment
• 9/27/2013 – TerraHash shuts down

Please point me to any events that you consider important and would like to see on the log.

For ease of tracking I’ve decided on the following discrete categories to classify all events:

1. Banking: Refers to decisions made or stances taken by banks and other traditional financial Continue reading →

2013-08-01 Crypto-Timeline

Here is a log with relevant legal, regulatory, law enforcement and business risk milestones in the crypto-currency race to maturity with links to trusted sources.

The  Key July 2013 Crypto-Events were:

• 7/2/2013 – Feds arrest alleged Romney tax return hacker and Bitcoin blackmailer
• 7/4/2013 – Mt Gox resumes operations and announces new banking relationships
• 7/4/2013 – Users Bitcoins are seized by the US Drug Enforcement Administration
• 7/8/2013 – E-Sports league hit with lawsuit over bitcoin mining
• 7/19/2013 – Bank of the West shuts down Amagi Metals account
• 7/22/2013 – SEC charges Texas man with running Bitcoin-denominated Ponzi scheme
• 7/29/2013 – Thailand’s central bank allegedly bans Bitcoin (not really the case, though)

Please point me to any events that you consider important and would like to see on the log. Continue reading →

2013-07-01 Crypto-Timeline

Here is a log with relevant legal, regulatory, law enforcement and business risk milestones in the crypto-currency race to maturity with links to trusted sources.

The Key June 2013 Crypto-Events were:

• 6/10/2013 – LibertyBit temporarily suspends operations due to RBC closing their bank account
• 6/19/2013 – Bitspend suspends operations due to Chase closing their bank account
• 6/20/2013 – Mt Gox temporarily suspends U.S. Dollar withdrawals
• 6/23/2013 – Bitcoin Foundation receives Cease and Desist Order from California
• 6/24/2013 – DEA Bitcoin seizure is first ever in US history

Please point me to any events that you consider important and would like to see on the log. Continue reading →

Dwolla Account Seizure Reveals Mt Gox on Brink of US Indictment

[Reading Time: 8 minutes]

The US District of Maryland seizure warrant that stopped Dwolla in its tracks this week reveals in good detail that the Department of Homeland Security, the US federal agency charged with not only protecting the US borders but also deterring cybercrime, has been investigating Mt Gox for a while now, and has found a criminal violation to the US federal prohibition to operate an unlicensed money transmission business.

This warrant, which was published yesterday by multiple blogs, officially confirms that the FinCEN guidance of March 18, in which this federal government agency equates virtual currency exchanges and administrators to money transmitters, is already being enforced.  To my knowledge, no charges have been made at this point, but the fact that two bank accounts were seized (see below) seems to indicate that an indictment may be imminent.

What exactly is the “Dwolla Account” seizure warrant that stopped its operations this week?  Why was it issued?  What’s going on here!? Continue reading →