Hey Compliance Nerd! A friend of mine who wants to make a investment in Bitcoin. However his concern is declaring it to the government, so a couple years down the road if it is a successful investment he isn't left dealing with AML regulations. Is that something that should be a cause for concern? A Shy Investor Hey & happy new year Shy! I understand that concern, and the...
Hey Compliance Nerd! Lately there has been quite a few customers contacting us to buy bitcoin because their systems have been infected with ransomeware. I saw a tweet last week that suggested that we might get in trouble for this, but I couldn’t find any more information. Obviously I want to be able to help my customers, and I don’t want to do anything illegal. Ransomed Hey Ransomed...
Hey Compliance Nerd! I've just incorporated my company, and I can't tell you what the business model is yet but it's related to digital currency, and it’s going to be awesome. When I went to my bank to open a bank account for my company, they told me they don't open accounts for digital currency businesses. One of my friends suggested that I go to another bank and just tell them I'm a softwar...