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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Business Law
Satisfied Customers: 1611
Experience:  Run my own successful business/contract law practice.
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Hi, Im a US Citizen, and considering becoming an exchanger

Customer Question

Hi, I'm a US Citizen, and considering becoming an "exchanger" for Essentially, libertyreserve (LR) is like a poor man's escrow agent, with an important exception: one cannot make "deposits" directly to LR. One method of making a deposit to LR is via credit card, through the "exchanger." It seems like a profitable venture. The exchangers charge hefty fees (as in Western Union) per transaction. However my concern is the potential to abuse the system for money laundering etc. Aside from protecting myself via setting up an LLC, the larger and pointed question is: Is this enterprise (and my business model) legal? If you go to the LR website you'll see a list of "exchangers" and from there you'll get the idea. Thanks!
Submitted: 6 years ago.
Category: Business Law
Expert:  Fran-mod replied 6 years ago.


My name is XXXXX XXXXX I’m the Legal Category Moderator for JustAnswer. My job is to assist customers with pending questions for the Legal Experts here at JustAnswer.

I'm sorry you haven't received an answer yet.

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Customer: replied 6 years ago.

Fran hi did you just send an email to me? I got one saying more info needed.


Sure, or if you believe my question isn't worded clearly I can rewrite it. The specific area of law might be close to "international commerce" but that's a guess. I also suspect that another "tag" for the question could be "Uniform Commercial Code"

since that's another area of law where the answer might lie.

Thanks much



Expert:  Fran-mod replied 6 years ago.

Sorry if the email you received was confusing to you The only information I needed whas whether you wished me to help find you an Expert.

I’ll try to find an Expert to assist you. When one responds, you will receive an email.

When you get a helpful answer, please remember to click on the green Accept button so that your expert gets paid for his work.

Thanks for your continued patience.


Customer: replied 6 years ago.
Hi Fran, no problem! thanks. Walter