Is a bitcoin wallet like blockchain.info is a money transmitter as they are sending the transaction on your behalf. Also, that goes for any wallet company based in the USA. Is this true?

The answer is, it depends. In the case of Blockchain.info they are not classified as an MSB, because they do not have access to your funds. In their legal description they claim: 5.1.1 The Wallet is provided to you exclusively by Blockchain Luxembourg S.A. At no point will Blockchain ever take custody or control over […]

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Is Ripple a money transmitter under the FinCEN regulation? Do they have a money transmitter license?

In 2015, FinCEN fined Ripple for acting as a money transmitter and also violating various sections of the BSA (Bank Secrecy Act). WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN), working in coordination with the U.S. Attorney’s Office for the Northern District of California (USAO-NDCA), assessed a $700,000 civil money penalty today against Ripple Labs Inc. and […]

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Should I use Bitcoin or TransferWise to transfer money to myself internationally? What makes more sense financially? I am not in a rush, but don’t want to pay racketeering fees from forex rates.

It depends if you’re able to cash out into fiat using Bitcoin. If that option is available, then Bitcoin might just be the best option. However, you’d be pretty hard to compete with Transferwise. What is the differential we are talking here between the two? Have you done any analysis of it. Assuming the amount […]

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