my TLDR of the NY report against BFX/USDT -- sounds to me the bigger target/issue is CryptoCapital in terms of legit fraud/money laundering. BFX is getting all the attention and they weren't the most truthful or transparent in the matter but they actually have the USD it appears
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Unfortunately, fiat banking is a black box. We don't know if there's a problem at CC or at the bank. No doubt BFX still carries the USD on the balance sheet but if it's frozen/seized, who knows how many years it could take to become recoverable. Gox still going 5+ years.
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You need a payment processor license to do online payments as it is a regulated activity. Bitfinex could not obtain such a license due to the nature of the business.
It is likely CCC received an asset freeze order due to a money laundering investigation. They cannot disclose it.
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CCC needs to bank somewhere. This bank must be connected to SWIFT. Anybody who did Bitfinex withdraw going through CCC in 2018 should get information about the bank.
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Luckily we have reliable exchanges like Kraken!
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Didn't kraken also use CCC at one point? or am i remembering wrong?
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yeah... something like this.. I don't think it's there on their websites anymore?
gpwa.org/forum/do-not-u
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Yes, we did. Phased them out in early 2017, I believe.
I thought so. (I didn't mean to use that particular link, it is the first one that comes up on google). I do think it's a reflection of the difficulty in getting banking services though
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