Chile Forum

eeuunikkeiexpat wrote:+++++ for Gold Money.

eeuunikkeiexpat wrote:$10,000 USD threshold is a CHILE CUSTOMS (physical at a port of entry) or CHILE BANK REGULATION (cambio/wires/electronic) thing which may impact SII dealings.

February 04, 2011, 11:20:40 pm

Please read the following:

http://article.gmane.org/gmane.comp.fin ... ypto/22354
http://article.gmane.org/gmane.comp.fin ... ypto/22355

Entire thread: http://news.gmane.org/gmane.comp.financ ... ver-crypto
Subject: "Watch out for changes at LR!"

My recommendation is to NOT use Liberty Reserve. If you have funds in it, dump them NOW.

I had posted warnings about LR on this forum around a year ago.

https://www.bitcoin.org/smf/index.php?t ... 299#msg299

I also advised lots of people in PMs to not hold their money with LR. I hope people paid attention.

I am also starting to think that the recent demand for Bitcoin in the past few days have to do with the changes that are going on over at Liberty Reserve.

"Banking secrecy" is an oxymoron.

Date: 2011-01-31 20:05:04 GMT (21 weeks, 2 days, 21 hours and 20 minutes ago)

If you are using a fake name at LR, I suggest you log into your account TODAY to change it, because after Feb. 1 you won't be able to.

I have said over and over again that LR's being in Costa Rica and using it's banking system and allegedly getting a CR banking license are very bad ideas, and now everyone will soon see just how bad this will get.

The banking regulations in Costa Rica are some of the most outrageous and ridiculous in the world. Now, it looks like they are being forced to comply, which, if they would have structured themselves properly would never have happened.

But then, they have trusted their high priced LIARS [er "lawyers"], and, like e-gold before them, arrogantly brushed off and dismissed my advice. Now, everyone with accounts there is about to suffer in many ways. You will now have to give a reason for every transaction you make, according to a contact of mine.

If you value your privacy, I would seriously consider using another e-currency before this bites you in the butt.

Here is their new Anti Money Laundering Policy, inspired by the draconian regulations now in force in Costa Rica, and because of which we don't use a CR bank account much anymore. I will annotate certain parts:

LIBERTY RESERVE'S Anti-Money Laundering Policy
As per Anti-money laundering legislation in effect not only in Costa Rica but in most countries makes it necessary for LIBERTY RESERVE to make public the companies policy to ensure we comply with money laundering regulations and not accept payments that expose LIBERTY RESERVE S.A. it's Exchangers and account holders to possible criminal fines and penalties...