wow, you so smart, man that just blows their whole ship right out of the water.  Have you bothered to check any dates on their articles of incorporations, or approriates ones that woulda been filed to show start date of business? probably not. Anyhows, learn to paralegal better.....

thanks for that.

OrangeSun,

Using a personal bank account isn't illegal. When TradeHill proved to be a viable business I opened a business bank account.


I started TradeHill as a sole proprietorship, I didn't register "TradeHill" until 8 days after we opened. I've done a little research and you are correct, I violated this law: https://www.oregonlaws.org/ors/648.990
This is obviously viewable by the public and I'm not hiding it.

Here are the penalties:

648.990¹
Penalties
(1) Violation of any of the provisions of this chapter is punishable by a civil penalty not exceeding $100.

I accept full responsibility.  I have no problem paying that fine in it's entirety.

Jered

OP, you sound like quite the legal expert. How much do you charge, $12 per hour?

Not sure who would sue Tradehill, or for what, but it does not concern me all that much...most of the funds I sent them underwent a transformation and bounced right back to my wallet.dat.

If a lawsuit resulted in their accounts (with my money) being frozen, that would suck but that family of problems was a calculated risk I took before sending them a dime.

If a lawsuit did not result in their accounts (with my money) being frozen, it is unlikely that the Tradehill guys would see their problems getting any better by absconding with what funds of mine they do control.

My general feeling vis-a-vis the fledgling businesses being built around Bitcoin is that they seem to be being started and run by pretty straight-up folks based on Wagner's show, their contributions to the forum, etc.  I've no doubt that they are generally 'fragile', but even if that is the case it does not concern me a whole lot.  I feel I have vastly more control of my assets when doing business with Bitcoin than with most other instruments these days.

I think paralegals should get back to bate-stamping, processing documents from discovery and all that wonderful stuff their bosses make them do over the weekend.

Unless you've passed the bar exam, don't come here with your sensationalist legal tripe.

Thanks.

I'm a US citizen.  I own both companies. The Chilean company provides support to the US company.
They both pay taxes.

I've explained it well enough.

Jered


Edit: http://en.wikipedia.org/wiki/Money_laundering
Money laundering is the practice of disguising the origins of illegally-obtained money.

That has nothing to do with moving it internationally.

A question which strikes me as at least equally valid:

How is this money laundering?

(This is actually a serious question, BTW.)

Adam, from the same wikipedia page: 

    Structuring: Often known as "smurfing," it is a method of placement by which cash is broken into smaller deposits of money, used to defeat suspicion of money laundering and to avoid anti-money laundering reporting requirements. A sub-component of this is to use smaller amounts of cash to purchase bearer instruments, such as money orders, and then ultimately deposit those, again in small amounts.[4]

Bitcoin can be considered a "Bearer Instrument".