1. [6:06:27 PM] taariq lewis: HEADS UP COUNTERPARTY
  2. [6:06:45 PM] taariq lewis: Just got off the phone with a professional in the Compliance and Prosecution Space
  3. [6:06:56 PM] Wendell: *rolls eyes in advance*
  4. [6:06:59 PM] taariq lewis: Expect 5 - 6 Companies in Bitcoin to be handed enforcement actions
  5. [6:07:16 PM] taariq lewis: before Money 20/20 event on November 4th.
  6. [6:07:25 PM] taariq lewis: By US Gov at the Federal Level.
  7. [6:07:41 PM] Wendell: Good grief. But _companies_ is the underlying word?
  8. [6:07:56 PM] taariq lewis: Not sure whom these companies are, but FinCen, SEC, and Justice Department are expected to make announcements of fines and deferred fines against these companies.
  9. [6:08:29 PM] taariq lewis: If you are in USA and you run a Bitcoin Business that issues tokens and you are not registered with FinCen, expect these fines to be established guidelines going forward
  10. [6:08:41 PM] taariq lewis: Rumors are 3 - 6 USA Bitcoin companies are the targets.
  11. [6:09:55 PM] taariq lewis: I encourage everyone here who is US based and issuing convertible digital money on Counterparty to check with your attorneys and get your guidance on registering with FinCen. If FinCen doesn't apply to you, don't sit around and scratch. Write a letter to FinCen and tell them why you are exempt.
  12. [6:10:06 PM] taariq lewis: If you think you're not being tracked/recorded, think again.
  13. [6:10:11 PM] taariq lewis: Good luck to us all.
  14. [6:10:47 PM] taariq lewis: Oh and yes, the punishments are PUNITIVE back to when these companies first launched or had their businesses running outside of FinCen regulations.
  15. [6:11:45 PM] taariq lewis: Lastly, if the Feds hand down actions, I fully expect the states to follow with their own legal actions as well. Of course, I'm not a lawyer and I could be wrong, but remember 2004 and PokerStars/ FullTilt/ Et al
  16. [6:12:42 PM] David Mondrus: Thanks taariq...
  17. [6:12:47 PM] Evan Stern: (expletive deleted) !
  18. [6:13:42 PM] Tim Swanson: fwiw, Taariq is correct
  19. [6:13:47 PM] Evan Stern: We have already found that the SEC is paying close attention to our project whilst on the phone with them.
  20. [6:14:18 PM] Tim Swanson: i've probably had 6-7 conversations with AML/KYC and MSB/MTL compliance experts in the past month who have said similar things
  21. [6:14:54 PM] :Matt: evan, what are you working on?
  22. [6:15:06 PM] Wendell: Oh boy!
  23. [6:15:19 PM] Evan Stern: Permacredits
  24. [6:15:25 PM] taariq lewis: Shit goin git reel.
  25. # Pastebin GZ1KeBbz
  26. [6:17:02 PM] Wendell: What big companies are actually *issuing* tokens?
  27. [6:17:07 PM] Wendell: SWARM… Who else?
  28. [6:17:15 PM] Wendell: Is SWARM even incorporated?
  29. [6:17:52 PM] Xavier Hawk: Hmmm....CP, Bitshares, Swarm, mastercoin,
  30. [6:18:09 PM] Xavier Hawk: Ethereum
  31. [6:18:13 PM] Gavin Knight: ethereum would be a likely target do to the mass volume, but they seemed to have tight legal
  32. [6:18:17 PM] Xavier Hawk: Storj
  33. [6:18:23 PM] Xavier Hawk: Maidsafe
  34. [6:18:29 PM] Michael Sullivan: US companies
  35. [6:18:32 PM] Evan Stern: Starts with a V
  36. [6:18:41 PM] Xavier Hawk: Dogeparty
  37. [6:18:46 PM] Gavin Knight: I think you should differentiate between a protocol, and a company issuing tokens
  38. [6:18:55 PM] taariq lewis: Well, rumor is that after this action there will be NO MORE BITCOIN EXCHANGEs in USA.
  39. [6:19:18 PM] taariq lewis: sux. There's only 1 left.
  40. [6:19:40 PM] Evan Stern: Wut.
  41. [6:20:02 PM] Shawn D Kennedy: 1?
  42. [6:20:13 PM] Shawn D Kennedy: in the US?
  43. [6:20:26 PM] Shawn D Kennedy: Bittrex, Poloniex and Cryptsy...
  44. [6:20:35 PM] Gavin Knight: they don't deal with USD
  45. [6:20:39 PM] Gavin Knight: except cryptsy
  46. [6:20:49 PM] Gavin Knight: exchange in the us is just not practical when dealing with USD, which is why coinbase doesn't function as such. Tether/Realcoin is aiming to integrate USD on the blockchain.
  47. [6:21:03 PM] Nick Rathman: cryptsy is probably a likely target
  48. [6:21:13 PM] Xavier Hawk: I went by there office in Delray fl
  49. [6:21:17 PM] Xavier Hawk: It was empty
  50. [6:21:21 PM] Xavier Hawk: They have a secret office somehwere
  51. [6:21:31 PM] Xavier Hawk: Lol
  52. [6:21:49 PM] Gavin Knight: I met the CEO and someone else awhile ago, decent people. I don't think they are their full-time, but have 24/7 support
  53. [6:22:59 PM] Gavin Knight: taariq what was the source?
  54. [6:23:17 PM] Xavier Hawk: Yeah T any other horrible things? Lol
  55. [6:23:43 PM] taariq lewis: One of our advisors. I can't divulge the name, but they were very clear that action is coming after all the rumors and that the Feds will make a statement about this industry.


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