With mounting pressure on online money exchanges from US regulators, payments processor OKPay has announced that it is suspending processing for all Bitcoin exchanges, including industry leader Mt.OKPay itself has had precious little to say publicly about the decision, other than issuing a one-line statement on its website to the effect that it is in the process of suspending its Bitcoin activities.The headline on the notice says the suspension is temporary, but to hear Mt.Gox tell it, it may be some time before OKPay resumes business with the Bitcoin community."OKPay is offering a solution, but in the meantime we want to make sure that Mt.Gox customers and the Bitcoin community are well-informed about this development," reads a statement posted to Mt.Gox's website on Tuesday.The company says that while it's not exactly sure when OKPay processing will be shut off completely, Mt.Gox will "soon" stop accepting payments via OKPay, probably within the next couple of weeks.Gox to OKPay accounts will not be cut off, but the amount that can be withdrawn will be limited to the amount that the customer had deposited via OKPay; any remaining balance will have to be withdrawn using other means.

Gox nor OKPay have explained the reasons behind OKPay's decision, but this isn't the first time Mt.Gox has run into problems with one of its payment processors.Earlier this month, the US Department of Homeland Security seized Mt.Gox's account with mobile payment processor Dwolla, on allegations that the account was in violation of US Code 18 USC § 1960 by operating an "unlicensed money transmitting business."Just where the Bitcoin market falls under US law is unclear, because the legality of Bitcoin transactions has yet to be tried in court and law enforcement has refused to comment on ongoing investigations, such as the Dwolla case.The US Commodity Futures Trading Commission has said it is investigating whether Bitcoin transactions should rightly be governed by its rules, but no determination has been announced as yet.Still, there's increasing evidence that regulators' interest in the online payment industry is growing.On Tuesday, federal prosecutors shut down the alternative online payment network Liberty Reserve and arrested three of its founders, describing the company as a $6bn global money-laundering operation.

While Liberty Reserve didn't have any direct connection to Bitcoin payment processing, many in the Bitcoin community worry that the incident is a signal that the government is increasing its scrutiny of alternative payment schemes and that Bitcoin could be its next target.bitcoin stock market tickerFor its part, Mt.como baixar bitcoinGox aimed to put a positive spin on the OKPay news, suggesting that the whole situation will sort itself out eventually.but litecoin ukGox wishes the best to OKPay, and we look forward to working together more closely in the future," the company's statement explained.bitcoin wallet data size"The Bitcoin economy is going through many changes recently, and we are positive that they will ultimately work themselves out in the best interests of the community and the World."hold meaning bitcoin

Buy Bitcoins w/ Payeer and PerfectMoney and OKPay Forum rules Like the original Silk Road, we also prohibit the sale of “anything whose purpose is to harm or defraud.” This includes child pornography, stolen credit cards, assassinations and weapons of mass destruction.download bitcoin wallet windows 7Unlike the original Silk Road we will also have to delete posts advertising things that are illegal in most jurisdictions.bitcoin 1 million per coin11 captchacoin Nickel Bitcoiner Posts: 26 Joined: Fri Aug 05, 2016 10:56 am Buy Bitcoins w/ Payeer and PerfectMoney and OKPay Buy Bitcoins w/ Payeer and PerfectMoney and OKPay https://www.captchaco.in/buy/ erikalui Nickel Bitcoiner Posts: 11 Joined: Thu Nov 19, 2015 9:53 pm Re: Buy Bitcoins w/ Payeer and PerfectMoney and OKPay Display posts from previous:All posts1 day7 days2 weeks1 month3 months6 months1 yearSort byAuthorPost timeSubjectAscendingDescending 11 Return to “Marketplace” Who is online Users browsing this forum: No registered users and 2 guestslitecoin global

Personal Finance & Money Sign up or log in to customize your list._ Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top up vote down vote favorite For those of us who deal with freelance foreign clients, I've heard of this company from clients, but can't figure out why it's not allowed in the United States.bitcoin gift paper walletThe reason I ask is that they advertise that they are in 200 countries - yet aren't in the largest economy in the world?That makes very little sense.Just as a comparison, when I tried to sign up in the US, it gave me a warning that it wasn't available, yet when I choose China or Venezuela - communist countries - it's fine.united-states online-payment up vote 8 down vote The U.S.requires money transfer services to be licensed under 31 USC 5330 in addition to any applicable laws at the state level.

According to multiple sources online, including the thread referenced by MD-Tech's answer, OkPay either cannot or will not get a license, so they are out.I dug on this a bit more because I thought it was interesting, and OkPay has other issues with U.S.and other regulators related to its interaction with Bitcoins, which themselves are a hot potato for regulation right now and may explain the licensing problem.It seems to also be facing regulatory pressure in other countries, by the way, so it's not strictly a problem they face in the U.S.Just for whatever reason, the problem is greater here.Some interesting summary points: With mounting pressure on online money exchanges from US regulators, payments processor OKPay has announced that it is suspending processing for all Bitcoin exchanges, including industry leader Mt.... Earlier this month, the US Department of Homeland Security seized Mt.Gox's account with mobile payment processor Dwolla, on allegations that the account was in violation of US Code 18 USC § 1960 by operating an "unlicensed money transmitting business."

http://www.theregister.co.uk/2013/05/29/okpay_suspends_bitcoin_processing/ In March, the US Treasury said any firms dealing in the virtual currency would be considered "money services businesses" just like any other, which means they must hand over transaction information to the government and work to prevent money laundering.http://www.theregister.co.uk/2013/05/15/mt_gox_us_court/ In the UK, it apparently has also had trouble with banking partners (quoting a OkPay official regarding changing bank providers): The UK bank that we used before did not make a final decision on whether to handle transactions in favour of crypto-currencies or not.Therefore the compliance department of the bank asked us to restrict such transfers.This apparently allowed them to reverse a policy in the UK: OKPAY's policy shift comes just months after it stipulated that GBP users check a box, verifying that their funds would not be spent on cryptocurrency, a feature that further incited users.

/okpay-gbp-bitcoin-transactions/ I hadn't heard of this company prior to your question, but having done some research, I tend to think that at least the part of this quote about language, attributed to a user, is true: OKPAY are quite paranoid about AML and another problem is that their support people seem to be very bad at English, so their replies are often hard to understand.Their support are also slow [sic].However in my experience they are an honest company.I found at least one case where rumors that the entire company were going to shut down were traced back to a poorly translated message issued by the company.Again, I know only what I read just now about this company, but it looked like there were a few red flags - the problems with the US probably not being the most important.This type of service is probably part of the future, but I'm not sure that I'd send money through it now in its current state or organization and regulation.up vote 8 down vote according to their client services it is a licensing issue: Thread: OKpay didn't Accept USA clients?

They do not elaborate but do suggest that they don't plan to fix that issue.up vote 4 down vote If you read the link that MD-Tech provided, it actually indicates that the foreign companies (mostly banks) are choosing not to work with the United States in their latest answer, so it looks like it's not OkPay, but the financial companies that they use.On further research, the reason that this is banned is to prevent capital flight in the future.OkPay offers may ways to transfer funds in and out, such as traditional credit cards, like VISA and MasterCard, and other non-traditional ways, such as crypto-coins.Here is another example of how the US government is limiting what US consumers can do with their money.Apparently while no one was looking in 2010, they were able to pass some new restrictions.up vote 2 down vote Here's the real reason OKPay (actually the banks they interface with) won't accept US Citizens.The Foreign Account Tax Compliance Act Congress passed the Foreign Account Tax Compliance Act (FATCA) in 2010 without much fanfare.

One reason the act was so quiet was its four-year long ramp up; FATCA did not really take effect until 2014.Never before had a single national government attempted, and so far succeeded in, forcing compliance standards on banks across the world.FATCA requires any non-U.S.bank to report accounts held by American citizens worth over $50,000 or else be subject to 30% withholding penalties and possible exclusion from U.S.By mid-2015, more than 100,000 foreign entities had agreed to share financial information with the IRS.Even Russia and China agreed to FATCA.The only major global economy to fight the Feds is Canada; however it was private citizens, not the Canadian government, who filed suit to block FATCA under the International Governmental Agreement clause making it illegal to turn over private bank account information./articles/personal-finance/102915/tax-implications-opening-foreign-bank-account.asp#ixzz4TzEck9Yo Follow us: Investopedia on Facebook Your Answer Sign up or log in Sign up using Google Sign up using Email and Password Post as a guest Name Email discard By posting your answer, you agree to the privacy policy and terms of service.