Looks like Cryptsy will be opening USD/BTC, USD/LTC, USD/DOGE and USD/FTC markets soon! Finally listed on the side and if you click on any of them, it says will be opened to verified users within the Next week.
Given previous exchanges success rate with similar activities; I view traditional currencies as the poisoned chalice.
The reason I thought this to be news worthy is because they seem to be doing everything by the book. What other exchanges were/are based in a country where Bitcoin has been declared "property"? I would assume this would allow for charges of property theft if the same was to occur (please correct me if I'm wrong) Also any of the other exchanges FinCEN compliant (Cryptsy displays on their front page FinCEN BSA ID: 31000027060819) (I know Bitfloor was before they refunded peoples money and shut down) From what I have read they have also followed SEC regulations such as listing their stock through a third party entity (where others list their fee share on their own exchange or investors can't buy in) From what I have read they seem to be the only exchange filing all the correct paper work to get to end result of being able to list in USD instead of just doing it, which I assume is why it has taken so long. Does anybody know if their is currently any other exchange in the US that also has followed all of the rules laid out by the IRS, finCEN, AML and the SEC? Please note that this only my opinion from what I have read and would love to hear from others who know more or can correct some of the info!
From what I've read lately on the company and Vern they have lifted their game and no longer feel as "fly by night vibey" as they did in the past. He's sent four staff off for FinCEN compliance training too.
I'm still very wary of keeping money in an exchange for any length of time. I had several thousand dollars sitting in BTC-E for a few months and I can say that I didn't enjoy the experience (and I didn't want to buy crypto at that time, either). Still, this can only be a good thing. Question for other users here: What do you keep your crypto speculating funds in? Do you keep your funds in LTC and BTC until you buy an alt, then get the profits buy converting back into LTC and BTC? Or do you do it straight to USD or PMs? The issue here is that if you take a good profit on an alt and then "lock in" the gains buy moving into BTC or LTC, you could still lose everything if BTC takes a dive.
Hasn't just about everything been taking a dive lately if not in BTC then in respect to $$$???? I've not been paying much attention.
Well not exactly next week from when I originally posted however it is FINALY here: July 1st Cryptsy's USD markets go live! As far as a I know they are the only exchange that has laid out all the ground work to become Compliant with every regulatory authority which should essentially make them one of the safest exchanges to trade on! Also being US based with the lean towards Bitcoin as a currency this could be great! Also the only exchange I am aware of that will not only have USD markets but actually allows users to buy shares and earn a % of their revenue. Oh and they have also added a DRK/USD pairing!
