User:Eburnside/sandbox

Source: Wikipedia, the free encyclopedia.
TxQuick
TypeDigital currency exchange
LocationBritish Columbia, Canada[1]
Founded2017; 7 years ago (2017)
OwnerPrivate
Key peopleEthan Burnside Chief Architect, Lead Blockchain Developer, David Coombs, Paul Larkin, and Darrell Snow[1]
CurrencyCryptocurrencies: BTC, ETH, and many other cryptocurrencies[2] Fiat currencies: USD, CAD
Websitetxquick.com

TxQuick is a Canada-based cryptocurrency exchange headquartered in British Columbia, Canada.[1] TxQuick is not a regulated exchange under US or Canadian securities laws because TxQuick does not list securities for trading. Instead TxQuick is subject to regulation by FinCEN (US) and FinTRAC (Canada). TxQuick has two modes of operation:

First, similar to the ShapeShift model prior to their changes October 1, traders may execute small trades with limited custody exposure and without having to sign up for an account.[3] This is legal in the USA under FinCEN guidelines for transactions under $1,000 USD and legal from TxQuick headquarters in Canada under FinTRAC guidelines for exchange transactions under $3,000 CAD.[4][5]

Second, if traders wish to trade in higher volumes or want access to long term reports (eg: for trade performance or taxes) they may sign up for an account and go through standard KYC checks.

History

The company was founded in 2017 by Ethan Burnside and two business partners. Ethan's previous work includes large projects at Caesars Entertainment, Playtika Division, and the 2012-2013 launch and operation of BTC Trading Corp, which was successfully wound down and user's funds returned after a determination by the SEC that it had operated as an unregistered exchange. [6]

References

  1. ^ a b c "TxQuick Contact Us". TxQuick. Retrieved 30 October 2018.
  2. ^ "TxQuick, The World's Most Trusted Digital Currency Exchange". TxQuick. Retrieved 30 October 2018.
  3. ^ Kevin Helms. "Shapeshift Moves to Membership Model Requiring User Information". Bitcoin.com. Retrieved 30 October 2018.
  4. ^ FinCEN. "Quick Reference Guide For Money Services Businesses" (PDF). FinCEN. Retrieved 30 October 2018.
  5. ^ FinTRAC. "Record keeping requirements for financial entities". FinTRAC. Retrieved 30 October 2018.
  6. ^ Caleb Chen. "United States SEC Fines BTC Trading, Corp for Unregistered Bitcoin Stock Exchange". CryptoCoinNews. Retrieved 30 October 2018.
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