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Damien, I just have question to this original question that…

Hi Damien, I just have...
Hi Damien, I just have a follow up question to this original question that you already answered -http://my.justanswer.com/question/index/1f1e1f69b106421087d9f0b2f6ddb540?continueTheConversation=False&comingFromAdservEmail=False&ratedThroughEmail=False&rating=0&paymentType=UnknownDo you know what else I would have to comply with. For Example the Patriot Act or The Bank Secrecy Act as well as others. Do you know what else needs to be done. I'm going to operate overseas in Japan and South Korea to start and maybe Europe. I'll follow up to see how I have to comply with those countries but I need to know what else I have to do in this Country.Thanks,Eric
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Answered in 13 hours by:
10/19/2017
DamienJD
DamienJD, Attorney
Category: Business Law
Satisfied Customers: 5,154
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Hello: My name is ***** ***** I am an attorney. Please give me a moment to review your question. I may ask some questions to clarify issues.

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Hi Eric: Yes. You would make sure that you followed laws or reporting requirements to comply with any anti-money laundering rules and regulations. FinCEN' guidance regarding digital currencies have sent many digital currency exchanges to set up anti-money laundering compliance. We can discuss more if you want to do so.

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Customer reply replied 9 months ago
Damien, Yes. I would need to know exactly what I would need to do. Please let me know if there is an extra charge if you need to supply more detailed information on what I would need to do or who I would need to contact. Thanks, Eric

Hi Eric: It would take me days if not a week or two to come up with a compliance plan. I probably would have to consult other attorneys. There are attorneys who specialize in Anti-Money Laundry compliance issues and the financial sector. You may want to consider retaining a law firm that has clients with ALM compliance issues and who work on a daily basis with lenders regarding these issues. I mean, it is interesting to me but a bit beyond this site. We can continue to chat if you would like to do so.

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Customer reply replied 9 months ago
Daminen, I just want to make sure I have this correct. In order to operate in Japan I would need to have an extensive compliance arrangement. How extensive is it? Would I be required to hire a compliance officer? Are there any attorneys that you would recommend. Thanks, Eric

Hi Eric: I was speaking about the US. There are companies that provide AML software and consulting:

http://www.kroll.com/en-us/what-we-do/compliance/screening-due-diligence/aml-compliance-due-diligence/anti-money-laundering

https://www.capitalcomplianceexperts.com/services/anti-money-laundering-program/?gclid=CjwKCAjwmqHPBRBQEiwAOvbR8wMHewBGQHcMCgRmCYtYYPNfPwNXvCPitlpvymCeTAr5U848u9gjyxoCYqEQAvD_BwE

There are also attorneys that handle these matters. For example:

https://ofaclawyer.net/bank-secrecy-act-compliance-lawyer/

Possibly chatting with them can help guard you in the right direction. I hope this helps!

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Customer reply replied 9 months ago
No Damien, I'm not going to operate in the U.S. I'm going to form a company in the U.S. but I won't operate in the U.S. I'm only going to operate in Japan. Would I sill have to comply with the Patriot Act and everything else. Thanks, Eric

Since you still will have a US company, you will still have to comply with US law. However, it could be less onerous if the business will be in Japan and the bank accounts are in Japan. Nevertheless, the US laws will apply to a US corporation. I hope this conversation helped you too!

DamienJD
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Customer reply replied 9 months ago
Great thanks for your help

You are welcome!

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Hello again: I want to thank you for the positive rating that you gave me on this question. I was happy to help you. You can always request me for future questions by putting my name first (DamienBosco) when you ask a question or you can bookmark my page and ask me a new question directly that way. Here is the bookmark to save:

https://www.justanswer.com/law/expert-damien-bosco/?rpt=3800

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