“Sometimes people prefer to type rather than talk on the phone. I guess they feel there is less of a chance of a sales pitch. That’s probably true since I can’t type all the great things about our software and how it can help your barter exchange as fast as I can talk about them,” says Catherine Cohen of BCL Soft. She suggests a similar feature on almost every website. It gives people the ability to get questions answered quickly and for the company, it allows you to really see who is coming to  your site and from where in real time. I have used the service and it works wonderfully and quickly. Kudos to Cat and Barry.

There has been a lot of talk, rumors, and grumblings in the Complementary Currency world regarding a Guidance Memo release by FinCEN – the Financial Crimes Enforcement Network of the United States Department of the Treasury. The subject of the memo was “Application of FinCEN’s Regulations to Persons Administering, Exchanging, or Using Virtual Currencies.”

You can read the entire memo athttp://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html.

The nutshell version of the memo was to clarify how operators of virtual currencies were to comply with the BSA – the Bank Secrecy Act. The act requires financial institutions to keep records of cash purchases of negotiable instruments, file reports of cash transactions exceeding $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities.

On first read of the memo, it looked as if all barter exchanges, complementary currencies, etc. would fall under FinCen’s guidance. That got a lot of people in the industry talking and wondering how to handle it.

I did not want to wonder. I wanted to get the correct information right from the source. So I picked up the phone and called FinCEN. After a couple of phone calls back and forth with an agent, I got clarification and confirmation on what is required and what is not required:

·         Regular, every day, normal barter exchanges DO NOT fall under the guidance. It was determined that since there is no way to ‘cash out’ your barter credits, there was no need for concern.

·         However, if the barter exchange does have a cash-out option, or is backed by precious metals or some other commodity, it DOES fall under this guidance and all registering and reporting procedures must be followed.

There you have it. More information than you ever wanted on this subject. But now you have the answer to a question you didn’t even know you had.

What does this have to do with barter?

There seems to be a popular movement towards more privately controlled money units, outside the control of a central banking authority. Barter is one of those money units, and though it is not directly backed by a commodity like gold and silver, it is backed (when managed well), by the available goods and services in the exchange. A well run exchange can function as well as a commodity currency.

http://www.surveymonkey.com/s/DFGKZ3L

By responding you will be eligible to win two free shoulder room convention nights at the five-star all-suite Venetian Resort Hotel in Las Vegas.

Make sure to answer question #5 on page two so that we can include your name and company in the drawing. The drawing will take place on May 15th, 2013!

NOTE: The following topics have already been selected to be part of the 2013 convention programming: broker and sales training sessions, exchange growth & expansion initiatives, IRS TIN Tax Reporting and Retirement/Succession Planning.

What: “Meet the Non-Profits, Discover How Easy it is to Make a Difference” Free admission; open to the public

When: Wednesday, April 24, 2013; 6:00 p.m. until 9:00 p.m.

Where: Del Jou Art Gallery, 1616 Huber St., Atlanta, GA 30318

This exciting volunteer celebration party will introduce the public to Atlanta-based non-profit organizations that provide accessible and rewarding volunteer experiences. Special guest, 11 Alive News Anchor DeMarco Morgan will share how community service has enriched his life. KISS 104.5’s Sasha The Diva will host.

Volunteer Celebration To Commemorate National Volunteer Week April 24, 2013

Atlanta currently ranks 14th in the nation for volunteering. National Volunteer Week, is a way to recognize and celebrate the efforts of volunteers, and will be celebrated in 2013 from April 21-27.

Two Atlanta organizations— Southern Barter Club and Do Good Get Rewards—will sponsor “Meet the Non-Profits, Discover How Easy It Is to Make a Difference” from 6-9 p.m. on Wednesday, April 24 at Del Jou Art Gallery, 1616 Huber St., Atlanta, GA 30318. The event will introduce the public to 20 diverse Atlanta-based non-profit organizations: including Hands On Atlanta, Atlanta Community Food Bank, Zoo Atlanta and Fernbank Museum to name a few. Each attendee will have the opportunity to ask questions to determine the volunteer opportunity that fits him personally.

Do Good Get Rewards is a volunteer rewards program. The free service provides an opportunity for non-profit organizations to demonstrate appreciation for their volunteers. Volunteers earn points for hours served and spend them on anything from massages to trips to deals at your favorite restaurants and more. (www.dogoodgetrewards.com)

Special guest, 11 Alive news anchor DeMarco Morgan, recipient of the NABJ National Community Service Award in 2006, will discuss how community service has enriched his life. His involvements have included Big Brothers, Big Sisters; 100 Black Men of America, Inc.; the YMCA; and Kappa Alpha Psi Fraternity, Inc

200 gift bags with $500 in rewards offers will be distributed to the first 200 attendees.

Live Jazz, light hors d’oeuvres and free parking make this a must attend event.

For further information, contact Tammy Allen, CEO of Do Good Get Rewards, at 678.344.6032; or Laurie Sossa, CEO of Southern Barter Club, at 678.491.9367.

www.dogoodgetrewards.com, www.southernbarterclub.com

We hope you enjoy the new look and feel of the site and find it most valuable.

This year the conference will include:

• Nationally Renowned Speakers
• Heavy Emphasis on Broker Training
• Sales Seminars
• Media Trading
• UC Trading
• Social Networking Seminars
• Latest Technological Developments
• Complementary Currency Program

Registration is open. Head over to www.IRTA.com to register.

The new management has redesigned the website and improved the business processes and ethics. Management has also decided to provide 30 % DISCOUNT to all exchanges who joins NEW XO before 31st March 2012.

The software has been changed and many important features like Customer Relationship Management, Business Intelligence, Interactive reporting and charts, IRS Reporting, Goal and Achievement tracking for staff, Personal Accounts for employees and live chat between members and staff. Fore more detail please visit http://www.xolimited.com/FeatureList.aspx