Regulations of exchange trading on behalf of Nu

[jooize]

In order to avoid locking up shareholder funds, I ask for guidance regarding my role as executor of Nu trades at Poloniex (for the time being).

Which concerns are there?

• Freezing of funds.
• Legal action against the executor.
• …?

I’m a Swedish citizen, and Poloniex is based in USA. Should I worry about tax issues?

I have Level 2 verification with a $7,000 withdrawal limit and use a Nu-specific account which is linked to my primary Poloniex account. I intend to apply for Level 3 unless there is reason not to.

@masterOfDisaster has looked into this before. I am not able to research much myself in this area.

[Concept] NBT entry and exit gateways

Operating such a gateway is maybe violating Poloniex’ terms “18. OWNERSHIP OF FUNDS”:

You hereby certify to us that any funds used by you in connection with the Platform are either owned by you or that you are validly authorized to carry out transactions using such funds, and that all transactions initiated with your Account are for your own account and not on behalf of any other person or entity.

While it’s unlikely that this causes trouble, I expect multiple accounts per person to do.Don’t try to create independent accounts on Poloniex (only linked accounts!), if you are going to be trusted with funds!

[mhps]

I guess a statement of authorization from FLOT is sufficient to satisfy

you are validly authorized to carry out transactions using such funds

and a statement of allowing you to use your own discretion, in order to execute auctions, from FLOT is sufficient to satisfy

and that all transactions initiated with your Account are for your own account and not on behalf of any other person or entity.

Or a motion is needed?

[jooize]

I’m confused by the “validly authorized” and then “not on behalf of any other person or entity”.

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I received this from Poloniex. Presumably because I didn’t trade the auction shares before withdrawing them.

Please be advised that Poloniex is not a web wallet or address changing service. When a customer deposits funds to their Poloniex account we assume they do so to trade on our platform. Continued use of your Poloniex account to deposit and withdraw funds without trading could lead to freezes and possible account closure.

Worth keeping in mind. Shouldn’t be a problem by my understanding of upcoming operations. NuShares will be mostly kept on orderbook, and not withdrawn until I’m no longer an executor or sales are decided against.

[GreatScott]

upcoming operations. NuShares will be mostly kept on orderbook

Where can we read more about this plan? It’s really hard to get caught up on things with so many motions, some aren’t even current yet still have the [voting] tag.