|ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT, CAD

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Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Fri Oct 09, 2015 3:39 pm

MOVING SHOP AN TEMPORARILY SUSPENDING OPERATIONS

From October 10, 2015 through to October 17, 2015, I will be suspending the daily operations of the XAGATE Ripple Gateway. I am moving to a new home office for the purpose of cutting personal expenses an to move within a nicer area within my city.

Precious Metals an Fiat Currency deposits and withdrawals will be processed in the order that they are received after operations resume. Cryptocurrency withdrawal requests will be processed in the order that they are received after operations resume. Cryptocurrency deposits will be managed automatically; the rippled ledgers will be purged again this evening to ensure that the automatic deposit system will not go down during my move.

If you require customer service during this upcoming week, please don’t hesitate to call me!
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
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Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Thu Nov 26, 2015 6:27 pm

I have been silent lately on the forums but this has been due to a lot of business these past few weeks. The Bank of Montreal has denied my application to open a corporate account simply due to lack of interest, this is quite frustrating, I have been a client of BMO's personally for over ten years. I have met with representatives of the FirstOntario Credit Union this morning to process an application to open a business account.

I am planning on offering more fiat currencies over the Ripple Network, an as such, I would require to register with FINTRAC as a money services business; I am attempting to convince FINTRAC I am indeed an MSB. Please find below my most recent correspondence with FINTRAC.

Thu 26/11/2015 10:14
Mrs. Stephanie Boddart,

Your evaluation is correct, my business is classed as an MSB, with the acquisition of RippleUnion I now remit approximately 9,700$ Canadian dollars. I am in the proposal stage with speaking to a very interested banker in Australia who wants to use my Ripple Gateway as a method to convert Canadian Dollars to Australian Dollars and vice versa using the Ripple Protocol. 8569541 CANADA INC. currently has an account (in the form of a bank draft at this time) totalling 10,681.21$ to cover the issuances of IOUs over the Ripple Network.

What you must understand is that a Ripple IOU from the Xagate account uses the ISO currency code CAD, a digital representation of a real, tangible dollar that can be redeemed from myself, the custodian of the Ripple Gateway. These CAD issuances represent dollars which are input to the corporation via in person deposits or via the Interac E-Transfer system. The Ripple IOUs disbursed to clients through their Ripple account is a secure bearer asset. Think of Ripple IOUs as Bearer Bonds which would typically be held by a person via a handcuffed, locked briefcase; the handcuffed briefcase in the case of using the Ripple software is the cryptographic keys which allow a user to access the funds found on the Ripple Ledger for that secret key's account.

The Libro Credit Union was the prior financial institution that the funds of 8569541 CANADA INC were stored until the prior owners transferred ownership of their corporation and all of the associated CAD transactions on the Ripple Network to me. A client can trade their IOUs not just for USD or AUD from my business conducted through my currency gateway. Users are allowed to trust other Gateways on the Ripple Network to trade issuances of CAD.r3ADD8kXSUKHd6zTCKfnKT3zV9EZHjzp1S (CURRENCY.RIPPLE ADDRESS FOR ~RippleUnion) for any number of foreign currencies.

According to your requirements for me to receive an MSB application package, please see below the exact workflow for how foreign currency transactions take place with my business.

The client has access to a Ripple account and wishes to deposit CAD, the individual initiates a deposit request from https://xagate.com. This request is manually processed by myself, if the user is a first time client, the user will be identified according to our Terms of Service which you can review again at https://xagate.com/tos.php. Once the user has verified their identity, the user may initiate an Interac E-Transfer to taylor@xagate.com by setting the security answer to a password of my choice. Once I have deposited these funds, the user receives their Ripple IOUs for Canadian Dollars, less a service fee for processing their request.

The user wishes to trade their CAD issuances for a foreign currency, for example AUD which I plan to offer. The user would use the Ripple software to offer their CAD in exchange for AUD an when they wish to receive those dollars, they initiate a withdrawal request on the web site. The withdrawal notified is then processed by myself, I check if this is a first time withdrawal for the user and if so I request an identification request as per the Terms of Service. The user then submits the required documents, they are verified, and I mail physical AUD to the client through an Insured Canada Post bubble envelope. This would be the same process for USD and AUD until I can find a financial institution which will allow me access to the ACH and SWIFT banking systems respectively so I may transfer these foreign currencies to clients' bank accounts directly, less the typical service fees for processing their order.

In addition to the interactions on the web site, clients can interact with me in person to initiate deposits and withdrawals of financial instruments on and off of the Ripple network. A user has CAD and wishes to receive AUD, a client can schedule an appointment with me to receive either Ripple IOUs or physical fiat currency at the time of their conversion. Likewise, any CAD, AUD, or USD issued by my business can be converted immediately to physical fiat during an in person meeting.

My plans for XAGATE include offering USD, AUD, CNY, JPY, and EUR. I am speaking with an investment firm based in Italy which is interested in exchanging EUR to purchase Ethereum (ETH), a cryptocurrency which I notified FINTRAC I would be offering alongside USD and AUD from our second to last email with each other. These exchanges would constitute a foreign currency exchange as I may be acting as a proxy buying service for financial assets, thus, I should be considered an MSB. This workflow is simply, this business may wish to send me physical or wire transfer EUR for me to convert to CAD, which would then be used to purchase Ethereum for delivery to the client, less a service fee for completing the transaction.

I do not wish to continue to develop my currency gateway service any further towards these goals of offering more fiat currencies to be deposited and traded through my business. I require an MSB license so that I can continue to develop my project which now is operating under a corporation instead of a sole proprietorship. I wish to offer USD, AUD, CNY, JPY, and EUR to my clients no later than February 2016 in addition to precious metals, cryptocurrencies, and Canadian dollars as I am developing an international financial service business.

I require an MSB license from FINTRAC before I begin the process of offering these services on my web site. I knew that I would be conducting an illegal money services business if I did not contact FINTRAC about these intentions. You mentioned that it would be required that FINTRAC would be required to examine my business and I could be charged with penalties if any thing is found to be out of place, however, I do believe if I continue to develop my business any further without an MSB license then I would still be liable to receiving legal action for not being licensed. The Australian banker that I have been speaking with is looking to do a short term and small volume deposit of up to 2,000$ AUD, which would be greater than 1,000$CAD of foreign currency transactions processed within 24 hours, in addition to remitting approximately 9,700$CAD requires me to register with FINTRAC as an MSB.

I would appreciate receiving an MSB application package,
Taylor Warden, Ripple Gateway Operator of https://xagate.com


Wed 25/11/2015 09:49
Dear Taylor,

Only businesses that offer MSB services, are able to register with FINTRAC. While you state that your business “…will be performing foreign currency…” and “…will be remitting Canadian dollars…” you have not clearly demonstrated how these services will be offered. Additionally, and as specified in the FINTRAC Interpretation Notice 1: Criteria for “Engaged in a Money Services Business”, you can only register your MSB if you offer foreign exchange transactions of more than $1000 for the same client within 24 consecutive hours, you remit or transmit funds in any amount, or you advertise that you offer these services to the public.

MSBs registered with FINTRAC have legal obligations under Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) that include reporting to FINTRAC, keeping records, identifying clients, and implementing a compliance regime. MSBs are also subject to examinations. When an MSB is examined by FINTRAC, if it does not meet all of the obligations, it may receive financial penalties or incur other consequences. If during an examination it is determined that a registered MSB is not actually engaged in the activities of an MSB, it is asked to cease its registration.

Therefore, it is to your benefit that we determine from the outset whether your business is actually engaged as an MSB in Canada as per the PCMLTFA and its associated Regulations.

At this time, our understanding of your services is that you will purchase a type of currency (including fiat currency such as CAD) from a client and will issue a Ripple IOU in return. The client may then choose to sell the Ripple IOU to you and receive another type of currency (including fiat currency such as USD) in return. As a result, your business appears to only be performing conversions of fiat currency to virtual currency and vice versa, which is not an activity covered under the PCMLTFA or its Regulations.

Consequently, unless you can clearly demonstrate step-by-step and in as much detail as possible that your business offers foreign exchange services (where one type of fiat currency is exchanged for another fiat currency, using the virtual currency to carry out the transaction) or offers remitting and transmitting services (where fiat currency is transferred at the request of a client and virtual currency is used as the mechanism to conduct the transfer), you cannot be registered as an MSB.

Moreover, because you state that you will offer exchanges of precious metals, I refer you to our attached correspondence of December 23, 2014, where it was explained that if you at any time engage in the purchase or sale of precious metals, stones, or jewellery in an amount of $10,000 or more in a single transaction, you are considered a dealer in precious metals and stones (DPMS) and are subject to the PCMLTFA and its associated Regulations, and the obligations outlined therein. To submit reports electronically you will need to obtain access to F2R, FINTRAC’s web-based tool for reporting entities, and can do so by contacting our RE Assistance Unit at the following e-mail address F2R@fintrac-canafe.gc.ca. But again, you can only enroll when you engage in the purchase or sale in an amount of $10,000 or more.

Regards,

Stephanie Stoddart

Financial Transactions and Reports Analysis Centre of Canada | Centre d’analyse des opérations et déclarations financières du Canada
Government of Canada | Gouvernement du Canada
234 Laurier Avenue West, Ottawa, ON K1P 1H7 | 234, avenue Laurier Ouest, Ottawa ON K1P 1H7

Email | Courriel Policy-Interpretation-Politique@fintrac-canafe.gc.ca

The determination contained herein is provided to your organization on the understanding that it is based solely on the facts and information provided to FINTRAC and may be subject to change in the event additional information becomes available. | La détermination contenue dans la présente repose uniquement sur les faits et l’information fournis à CANAFE et pourrait être modifiée si des informations supplémentaires sont portées à notre connaissance.


From: Taylor Warden [mailto:taylor@xagate.com]
Sent: November-09-15 3:55 PM
To: Policy-Interpretation
Cc: chris@ripple.com
Subject: Re: ATTN: Stephanie Boddart, XAGATE Terms of Service Update

Attention Stephanie Stoddart,

I wrote you last month explaining that I will be performing foreign currency and I will be remitting Canadian dollars over the Ripple network; at this time the approximated amount of the total obligations to my clients is ~9700$. I mentioned that I will be offering exchanges of CAD, precious metals, and cryptocurrencies for USD and AUD in the very near future on my web site.

I am not taking the "no, you are not an MSB" answer when my competitor is licensed and employs the same business model as I do. To force the issue, as I absolutely cannot accept this answer, I will begin offering exchanges of CAD to USD within my home effective immediately. Clientèle will meet me in-person to complete their CAD to USD/AUD transactions (or vice versa) by depositing cash to receive Ripple IOUs (less a service fee) for their desired fiat currency. When I am registered with FINTRAC as an MSB, I will be offering these services on my web site.

Please reply as soon as possible with an MSB application package,
Taylor Warden, Ripple Gateway Operator of https://xagate.com


From: Policy-Interpretation <Policy-Interpretation-Politique@fintrac-canafe.gc.ca>
Sent: 09 November 2015 14:21
To: Taylor Warden
Subject: RE: ATTN: Stephanie Boddart, XAGATE Terms of Service Update

Dear Taylor,

Thank you again for contacting the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Canada's independent agency responsible for the collection, analysis, assessment, and disclosure of information in order to assist in the detection, prevention, and deterrence of money laundering and the financing of terrorist activities in Canada and abroad.

I am writing further to your most recent e-mail of October 19, 2015, where you have asked for an update regarding the virtual currency regulations and whether businesses offering these services are now required to register with FINTRAC as money services businesses (MSBs). Additionally, you have provided an update of your business activities and have asked whether these changes mean you now need to register with us as an MSB.

As previously mentioned in our past communication, the Government of Canada has made changes to what services make an individual or an entity an MSB in Canada to include virtual currency services; however, these changes are still not yet in force. Individuals and entities engaged in the business of dealing in virtual currency services will be MSBs, but cannot yet register with FINTRAC. Before these individuals and entities will be subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), regulations need to be written to define what it means to be engaged in the business of providing services such as dealing in virtual currency.

Until these regulations are drafted and in force you are only an MSB, and are required to register with FINTRAC, if you are engaged in the business of providing any of the following services:
Foreign exchange dealing (conducting transactions where you exchange one type of fiat currency for another fiat currency);
Remitting or transmitting fiat funds by any means or through any person, entity or electronic funds transfer network; or
Issuing or redeeming money orders, traveller's cheques or other similar negotiable instruments (except for cheques payable to a named person or entity).

It is only if you are carrying out the services listed above that you can, at this time, be registered with us as an MSB.

Please note, I cannot address the communication regarding the services of any other entity including your competitor Bluzelle. I can however confirm that entities registered with us have explained that they engage in one or more of the services listed above which makes them an MSB. While entities dealing solely in virtual currency cannot yet register with FINTRAC, there are transactions involving virtual currency that are reportable under the PCMLTFA. These transactions typically involve the use of virtual currency as a vehicle for transferring fiat currency or for converting fiat currency to another type of fiat currency. Performing a simple conversion of fiat currency to virtual currency or vice versa is not, at this time, a service subject to the PCMLTFA or its associated Regulations. Similarly, the straight purchase or sale of virtual currency is not, in and of itself, subject to the PCMLTFA and its associated Regulations.

While I appreciate the amount of detailed information you provided about your business activities, it seems that at this time, you are still only dealing in virtual currency. As such, it appears that your entity is not, at this time, engaged as an MSB in Canada as per the PCMLTFA and its associated Regulations. Therefore, you cannot register with us.

Should your business offer, now or in the future, any of the services listed above, please contact us again to provide details relating to these services so that we may review and reassess our interpretation.

Kind regards,

Stephanie Stoddart

Financial Transactions and Reports Analysis Centre of Canada | Centre d’analyse des opérations et déclarations financières du Canada
Government of Canada | Gouvernement du Canada
234 Laurier Avenue West, Ottawa, ON K1P 1H7 | 234, avenue Laurier Ouest, Ottawa ON K1P 1H7

Email | Courriel Policy-Interpretation-Politique@fintrac-canafe.gc.ca

The determination contained herein is provided to your organization on the understanding that it is based solely on the facts and information provided to FINTRAC and may be subject to change in the event additional information becomes available. | La détermination contenue dans la présente repose uniquement sur les faits et l’information fournis à CANAFE et pourrait être modifiée si des informations supplémentaires sont portées à notre connaissance.


From: Taylor Warden[SMTP:TAYLOR@XAGATE.COM]
Sent: Monday, October 19, 2015 6:37:49 PM
To: guidelines-lignesdirectrices
Cc: chris@ripple.com; Alina Trach
Subject: ATTN: Stephanie Boddart, XAGATE Terms of Service Update
Auto forwarded by a Rule

TO THE ATTENTION OF MS. STEPHANIE BODDART,

Stephanie, you may recall that I wrote you last October to inform you of my intentions to create a financial services business. You informed me of the currents regulations, specifically, that my business is not considered to be a money services business but instead a virtual currencies business and a Dealer of Precious Metals and Stones. Additionally, you noted that pending regulations were not in effect regarding virtual currencies. Please inform me of any news regarding Bill C31 that may affect my business.

I am writing you today update you as to my businesses operations, my success within my industry as I am under taking ownership and operation of the predecessor within my field, and my intention to obtain a Money Services Business License. It is to my knowledge that Bluzelle, a Vancouver based International Ripple Business Association Member Ripple Gateway, has obtained an MSB license recently. The reason for such a lengthy email is to provide FINTRAC with as much relevant information as possible which may affect regulations that I am currently not acknowledging.

First, my business operations have been very stressful but I have managed quite well. I have released virtual assets as loyalty tokens over the Ripple Network and the NXT Blockchain's Monetary System. These tokens are redeemable for service fees to be waived for six months or are to be used as a Cryptocurrency on the Ripple Network and as a Liquidity Service plus Escrow Service on the NXT Blockchain (https://xagate.com/loyalty.php). Also on the NXT Blockhain, I have released a Profit Sharing asset. This asset pays shareholders dividends on a monthly basis, where as a 45% share of the last month's total transaction volume less business expenses. 51% of these tokens are kept within my personal NXT Account to be able to offer limited liquidity to buy-back investors' shares if they choose to divest from XAGATE. The Terms of Service outlines not only the operation of the Ripple Gateway but the terms of the aforementioned asset at https://xagate.com/tos.php. I have also completed my automatic deposit system for Cryptocurrency transactions where as XAGATE is currently offering IOUs for BTC, LTC, and NXT over the Ripple Network with plans to add ETH shortly. Last, I have successfully been verified and registered by the International Ripple Business Association; my logo and a few of my most popular assets are listed on http://www.ripplebusiness.org/

I have received a 1000$USD donation from Ripple Labs on a platform called Bountsource at the end of June. This is for the work I have put into an open source project called the Quick Gateway Kit (QGK). I have raised an additional 200$ from a businessman based in Italy, his company is interested in using the Ripple software as a means of book-keeping their investors' portfolios and the return on investment or loss. I have even convinced a fellow community developer to continue to support a piece of software that Ripple Labs has discontinued support for which is planned to be packaged with this GitHub repository (viewtopic.php?f=2&t=15581). I have created two additional repositories for this project to assist with automating deposits of Cryptocurrency into a Ripple Gateway and to display the obligations and balances a Gateway owes and owns within the Hot-wallet(s) respectively. I am actively offering my skills set within the Payment Solutions Industry to possible affiliates and business partners to offer consulting services. I have unsuccessfully shared a lot of my time designing a logical model of an insurance lead system that ties into charities in the United States but the individual refused my quote when I offered it after my hard work. Please see here my current use cases that Ripple can assist with solving, some examples are implementing insurance coverage, implementing a transportation service, and an index for Wireless and ISPs to share their services an offer a payment platform with Ripple software (viewtopic.php?f=1&t=15565).

QuickGatewayKit: https://github.com/QuickGatewayKit/qgk
Bountysource QGK Team: https://www.bountysource.com/teams/qgk
rippled-sign-submit: https://github.com/whotooktwarden/rippled-sign-submit
rippled-gateway-balances: https://github.com/whotooktwarden/rippl ... y-balances

The most success that I have experienced is being contacted by a Mr. Stephen Weber of Kitchener, who also informed me when contacting FINTRAC that his Ripple Gateway was not considered an MSB either. I am now taking over operation of the first Ripple Gateway in Canada which was named RippleUnion. The problem with this brand was that Ripple Labs updated their Brand Guidelines and asked Stephen to please change his brand due to the usage of the Ripple name which is trademarked.

Instead, Stephen offered me 100% ownership and operation of 8569541 CANADA INC. Stephen Weber and Jonathan Lamothe, the current owners, are currently communicating with their lawyer Todd to prepare paperwork to transfer the aforementioned shares. The Libro Credit Union is where the Canadian Dollars are held in custodianship which back the Ripple IOUs issued to clients. My access in August was revoked to their online banking platform. When it was intended that I would be taking over partial operation of their Canadian Dollar transactions, the credit union also unexpectedly revoked both Stephen and Jonathan's access too, so their operations are at a stand still until this paperwork goes through. We were expecting this to be completed at the end of September but there have been some set backs. When this has been completed, I will certainly inform you and share the relevant documents that FINTRAC may request from me if FINTRAC is to be concerned about this news at all.

Last, I am requesting that FINTRAC offers me the opportunity to become a Money Services Business. I am a 23 year old software developer (soon turning 24 this Halloween) and self-made economist that lives off of the Ontario Disability Support Program due to living with Spina Bifida and Hydrocephalus. I cannot afford to be naive enough to actually accept the last assessment that my business is not considered an MSB. To protect myself from any legal issues as I am take over the ownership of a >15,000$CAD corporation, I would ask FINTRAC to please work with me diligently as you have with my competitor Bluzelle (http://bluzelle.com/).

Additionally, I have the intention to offer USD IOUs over the Ripple Network. This would mean that it would be possible for my clients to convert the following assets into USD: XAU, XAG, XPT, XPD, BTC, LTC, NXT, and CAD. I would also like to inform FINTRAC that I am currently in contact with a Mr. Mark Pey who represents tilikuminvest.com, an Australian based company that is investigating Ripple as a means to offer an umbrella of products. One of the products that Mark Pey has proposed to me is that I will offer AUD over the Ripple Network; my partner would be sending me the AUD and I would be issuing the IOUs to the clients. I have registered a security deposit box with RBC to store the precious metals in custodianship, the AUD will be stored here as well. Please note that when the AUD IOU is issued, Canadians and individuals internationally will be able to convert the following currently offered an proposed currency, cryptocurrency, and/or precious metal:

Proposed Ripple IOUs: USD, AUD, and ETH

IOUs issued over the Ripple Network: XAU, XAG, XPT, XPD, BTC, LTC, NXT, CAD

Please see here my aforementioned gateway balances audit software:
https://xagate.com/xagatebalances.php
https://xagate.com/cadbalances.php

I have every intent to work very closely in the future with Banks and Regulators if at all possible. The first step for me is to become an MSB. Thank you very much again for reviewing my lengthy emails again an for responding to this request with your due diligence Ms. Boddart.

Kind regards,
Taylor Warden, Ripple Gateway Operator of https://xagate.com
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
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Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Mon Dec 07, 2015 9:17 pm

I have finally convinced The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) that XAGATE is a MSB, I will be registering with them as soon as I receive the application. The Terms of Service will be updated according new requirements whereas the Patron Status clause will be void due to the need to identify all client interaction an keeping records of all clients' relevant ID. Please see below for the reply from FINTRAC:

Dear Taylor,

Thank you for providing this additional information.

Again, it is important to note that the Government of Canada has made changes to what services make an individual or entity a money services business (MSB) in Canada to include virtual currency services; however, these changes are not yet in force. Individuals and entities engaged in the business of dealing in virtual currency services will be MSBs, but cannot yet register with FINTRAC. Before these individuals and entities will be subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), regulations need to be written to define what it means to be engaged in the business of providing services such as dealing in virtual currency.

Until these regulations are drafted and in force you are an MSB and are required to register with FINTRAC if you engage in any of the following activities:
Foreign exchange dealing (conducting transactions where you exchange one type of fiat currency for another fiat currency);
Remitting or transmitting fiat funds by any means or through any person, entity or electronic funds transfer network; or
Issuing or redeeming money orders, traveller's cheques or other similar negotiable instruments (except for cheques payable to a named person or entity).

Based on the description of your services, specifically the in-person foreign exchange services where clients make an appointment with you to exchange one type of fiat currency for another type of fiat currency, it appears that your entity is engaged as an MSB in Canada as per the PCMLTFA and its associated Regulations. As an MSB in Canada, you have legal obligations under the PCMLTFA, including registering your business with us, reporting to us, keeping records, identifying your clients, and having a compliance regime. It should be noted that MSBs are covered only for the activities listed in the bullet points above; however, once an entity is engaged in MSB activities, all of its activities become subject to the suspicious transaction obligations of the PCMLTFA and its associated Regulations. For example, should an MSB also sell couches, the activities related to the sale of a couch would need to be considered against the suspicious transaction obligations of the PCMLTFA and its associated Regulations. Our publication, Your Money Services Business in Canada: What you need to know, available at the following link http://www.fintrac-canafe.gc.ca/msb-esm/intro-eng.asp, gives a short summary of your obligations and responsibilities. All of these are described in greater detail on our website at www.fintrac-canafe.gc.ca. It is important that you understand these obligations and meet them to be in full compliance with this law.

Additionally, given that you will offer exchanges from fiat currency to XAU, XAG, XPT, XPD, it appears that you may be purchasing or selling precious metals. Therefore, if at any time you engage in the purchase or sale in an amount of $10,000 or more in a single transaction, you will be considered a dealer in precious metals and stones (DPMS) and will be subject to the related obligations outlined in the PCMLTFA and its associated Regulations. For more information, please consult the Dealers in precious metals and stones page of our website found here: http://www.fintrac-canafe.gc.ca/re-ed/dpms-eng.asp.

I have forwarded your information to FINTRAC’s MSB Registration Unit and a Compliance Officer will be in touch shortly to assist you with the registration process.

Best regards,

Stephanie Stoddart

Financial Transactions and Reports Analysis Centre of Canada | Centre d’analyse des opérations et déclarations financières du Canada
Government of Canada | Gouvernement du Canada
234 Laurier Avenue West, Ottawa, ON K1P 1H7 | 234, avenue Laurier Ouest, Ottawa ON K1P 1H7

Email | Courriel Policy-Interpretation-Politique@fintrac-canafe.gc.ca

The determination contained herein is provided to your organization on the understanding that it is based solely on the facts and information provided to FINTRAC and may be subject to change in the event additional information becomes available. | La détermination contenue dans la présente repose uniquement sur les faits et l’information fournis à CANAFE et pourrait être modifiée si des informations supplémentaires sont portées à notre connaissance.


I am still having issues with opening a new corporate account to cover the obligations that XAGATE has obtained from Rippleunion's clients. I don't know if the reason for receiving so many denied applications is because I am young or if it is due to the general fear of offering an account to currency based businesses, which was the case for the FirstOntario Credit Union to deny my application. If I cannot open a new corporate account soon, I will explore other options to remedy the situation. Many apologies to all of the Rippleunion clients who have been affected by the legal processes that singpolyma and I have been through these past few months; I will be solving this troublesome situation ASAP.
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
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twarden
 
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Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Wed Jan 13, 2016 1:11 am

Updates so far for 2016 regarding the Gateway include these recent developments:

-XAGATE has submitted an MSB registration with FINTRAC an I am awaiting a Money Services Business license number
-XAGATE will soon support issuances of USD over the Ripple Network
-XAGATE is investigating offering reloadable prepaid debit cards to clients as a withdrawal method which will support all XAGATE IOUs

Once I have been issued an MSB license, I can open a USD account with the Royal Bank of Canada to be able to offer services to residents of the USA. After this update, XAGATE exits its public beta phase and enters into full release. The future support updates include investigating offering support for AUD, EUR, CNY, JPY, and INR.

As for the prepaid debit cards, I have made an application with a Canadian based prepaid payment solutions company to offer reloadable debit cards as a withdrawal method for XAGATE clients. If accepted, the first print run will be made exclusively for the residents of Canada. Clients will be subject to a one time set up fee and a service fee for reloading your balance using your XAGATE Ripple IOUs. If the program proves to be successful, then XAGATE will offer prepaid debit cards based in USD to service American clients' withdrawals; I will also investigate the possibly of shipping USD based debit cards internationally.
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 758
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Tue Jan 26, 2016 3:10 pm

When browsing the XAGATE web site, you will now notice the option to chat with the operator on the bottom right of your screen. If I am online, please feel free to ask me anything Ripple-related or about the XAGATE Gateway!

If you do not see this option, please ensure that you have enabled Javascript within your browser.
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
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I am not affiliated with Ripple Labs.
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Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Tue Feb 02, 2016 6:30 pm

XAGATE has successfully registered as a Money Services Business with the Financial Transactions and Reports Analysis Centre of Canada. Our registration number is M16017510.

Dear Mr. TAYLOR WARDEN,

Your application for registration as a money services business (MSB) has been processed. We are pleased to inform you that your business, 8569541 CANADA INC., has been successfully registered. You can review this information by logging on to MSB Registration https://www9.fintrac-canafe.gc.ca/msb-esm/.

A letter will follow confirming your registration status.

We may request additional information from you at a later date.

MSB Registration Unit

telephone 1-866-346-8722 | facsimile 1-866-288-6488
msb-esm@fintrac-canafe.gc.ca
Financial Transactions and Reports Analysis Centre of Canada | 234 Laurier Avenue West Ottawa ON K1P 1H7 | Government of Canada
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 758
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby tomxcs » Tue Feb 02, 2016 7:57 pm

twarden wrote:XAGATE has successfully registered as a Money Services Business with the Financial Transactions and Reports Analysis Centre of Canada. Our registration number is M16017510.


Congrats :+1:

You should join us on http://www.xrpchat.com - There are a couple Canadians that would be able to use your service.
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Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Wed Feb 03, 2016 12:17 am

tomxcs wrote:
twarden wrote:XAGATE has successfully registered as a Money Services Business with the Financial Transactions and Reports Analysis Centre of Canada. Our registration number is M16017510.


Congrats :+1:

You should join us on http://www.xrpchat.com - There are a couple Canadians that would be able to use your service.


Much obliged, it's great to see that you made use of that domain!
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 758
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby tomxcs » Wed Feb 03, 2016 12:54 am

twarden wrote:Much obliged, it's great to see that you made use of that domain!


Thanks to karlos
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Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Wed Feb 24, 2016 5:16 pm

The XAGATE site is down this morning for maintenance as the web server has encountered an error with producing secure SSL connections. I will make an update shortly when this issue has been solved.
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 758
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

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