0 sats \ 1 reply \ @ek OP 13 Sep 2022 \ parent \ on: Bisq arbitrage trading bitcoin
Source?
"he also patiently aided and educated her in best custody practices, as well as how to not “trigger” banking problems by using specific terms which could result in closure of her bank account (which is a fairly common occurrence and known concern for Bitcoin enthusiasts, particularly at that time). According to Hopkins, Prosecutors later disingenuously charged him with teaching this woman 'how to commit bank fraud.'"
and on that same site you have the FinCen memo which reads:
"Whether a person is a money transmitter under FinCEN’s regulations is a matter
of facts and circumstances."
"This guidance may refer to a pattern of activity as a business model using a title or
name (“label”) that may coincide with a label used by industry to designate a general
type of product or service. The label, however, will not determine the regulatory
application. Rather, this guidance applies to any business model that fits the same key
facts and circumstances described in the guidance, regardless of its label."
"FIN-2008-G008, 'Application of the Definition of Money Transmitter to Brokers
and Dealers in Currency and other Commodities,' September 10, 2008, states
that as long as a broker or dealer in real currency or other commodities accepts
and transmits funds solely for the purpose of effecting a bona fide purchase or
sale of the real currency or other commodities for or with a customer, such
person is not acting as a money transmitter under the regulations. However,
if the broker or dealer transfers funds between a customer and a third party
that is not part of the currency or commodity transaction, such transmission of
funds is no longer a fundamental element of the actual transaction necessary
to execute the contract for the purchase or sale of the currency or the other commodity, and the broker or dealer becomes a money transmitter. This
regulatory interpretation extends to persons intermediating in the purchase
and sale of securities or futures."
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