Legal issues relating to the use of Bitcoins or similar crypto-currencies. This includes issues of legal compliance with legal areas such as taxation, money laundering, international currency controls, and so on.
6
votes
4answers
323 views
Traditional VC investment vs. bitcoin IPO
There are few bitcoin "stock exchanges" trading mainly BTC mining company pass-through shares, like
https://btct.co/
https://bitfunder.com/
We are planning to get investment for our ...
6
votes
1answer
121 views
bitcoin knowledgeable attorneys?
I'd like to accept freelance work with bitcoin, probably a large enough amount to consult a lawyer.
What kinds of questions would you ask to make sure they're competent? How would you go about ...
3
votes
1answer
117 views
MtGox-Api License
I want to use the data of the MtGox-API for my (commercial) website. I want to show their data as an exchange-rate, but, of course, I will link to their site and cite them as source. I couldn't find ...
2
votes
1answer
47 views
Do US based exchanges need to file as an MSB with FinCen?
What other legal requirements are there and what are the costs of compliance?
3
votes
3answers
356 views
Is it possible to detect mining of bitcoins on an enterprise network?
Is it possible to detect bitcoins mined where it may be against an organization's computer usage policy? E.g., Bitcoins mined secretly on corporate or university computers when the policies of the ...
3
votes
3answers
376 views
What happens if the US govt. bans Bitcoin?
They can do that because they are the US govt.
What would be the likely consequences of the ban?
5
votes
3answers
385 views
What prevents Bitcoins for being used by criminals to avoid taxation?
Governments around the globe are fighting black markets by following money trails and transaction histories, usually involving checking the suspects bank accounts. This makes it at least feasible to ...
4
votes
1answer
130 views
How can I measure the “health” of Bitcoin?
What are the metrics that matter when evaluating the overall "health" of Bitcoin?
What are the thresholds?
Specifically
Economic (e.g. velocity, days destroyed, market volume & beta)
...
2
votes
1answer
91 views
What aspects of Money Order laws will apply to merchants who use Bitcoin?
There are several money order laws that apply to merchants who accept them. Bitcoin seems to have properties of a money order, but also some aspects of value that are driven by demand.
I'm looking ...
3
votes
3answers
332 views
Are Bitcoins “created” by a miner or the Bitcoin Protocol (from a legal perspective)
The recent FinCEN announcement said explicitly that virtual currency isn't a "currency" by the standard sense of the word, and shouldn't be regarded as such.
Should Bitcoin ever be considered a ...
2
votes
0answers
127 views
Do private people mining or exchanging Bitcoin with Fiat fall under FINCEN's definition of “user”?
Fincen's March 2013 report defines:
A user is a person that obtains virtual currency to purchase goods or services.
An exchanger is a person engaged as a business in the exchange of virtual currency ...
3
votes
1answer
95 views
When should an individual or business file a SAR with FinCen?
In the United States, both Individuals and Businesses are required to file a Suspicious Activity Report (SAR) with FinCen when:
Individuals who transport more than $10,000 into or out of the United ...
1
vote
1answer
84 views
Is it acceptable / encouraged to ask for ID and keep a photocopy for Bitcoin OTC transactions?
Suppose a business wants to get into the Bitcoin OTC business... they will need to comply with AML laws.
It is acceptable / encouraged for such a business to ask for Photo ID and keep a photocopy ...
5
votes
2answers
183 views
Setting up a coinbase like service in India , need suggestions
I have read and researched extensively on bitcoin, but I haven't found any service like coinbase that allows a user to buy or sell bitcoins online without having a US bank account. So how can one ...
1
vote
1answer
87 views
Documenting bitcoin cash buys
I've been trading BTC in the UK via bank transfer for a while now and may begin doing cash purchases soon. I've realised that it is critical I document the cash withdrawal as an expense so that I get ...
2
votes
1answer
49 views
Might AML regulations have to be applied to unofficial currencies sites in EU?
Is there any AML regulation in EU countries which might have to be applied to unofficial currencies, such as Bitcoins?
I guess usually they only apply to state-backed currencies, but since Bitcoins ...
4
votes
1answer
221 views
Should earnings in Bitcoin converter to a traditional currency be treated as trading-income or non-trading income for tax purposes?
Should earnings in Bitcoin converter to a traditional currency be treated as trading income or non-trading income for tax purposes (for example, in Ireland)? Reason for them being considered trading ...
2
votes
3answers
143 views
What money transmission licences are relevant to Bitcoin?
Tradehill was shutdown for various regulation issues, including not having the required money transmission licenses.
What were the money transmission licenses that were required?
What other ...
4
votes
1answer
136 views
Using bitcoin in domain name
Is it legal to use bitcoin in a domain name? not a sub domain but in the main domain name.
Thanks in advance.
4
votes
1answer
188 views
Bitcoin charity fraud - is it illegal?
So we're all aware of services like CoinAd, but what if someone took advantage of that? Imagine if someone had a video game on facebook or something and had people fill out a CAPTCHA before they could ...
3
votes
1answer
174 views
Easiest way to set up non computer-literate person with Bitcoin
What would be the easiest/quickest way to get somebody who isn't computer-literate set up to have the ability to transfer money to me via Bitcoin? Also, Bitcoin touts that it is anonymous. Is it any ...
3
votes
2answers
229 views
Are there any countries which currently block or plan to block Bitcoin?
Are there any countries which currently block or plan to block Bitcoin? If anyone has enough reputation to edit this, maybe add "censorship" or maybe "freedom" as a tag because i can't.
6
votes
1answer
388 views
How does one document Bitcoin investments for tax and other legal issues?
If Bitcoins are used as a store of value or investment vehicle, what legal documents should the investor require/keep? To date, no jurisdiction has special laws concerning cryptocurrencies, but ...
1
vote
0answers
96 views
Zero Percent Interest Nonresident Free (Online?) Euro Checking Account with Good Service for Cashing out Bitcoins?
You can cash out bitcoins the cheapest way in Euros, right?
I'm from the EU but my country is not in the eurozone, so that's why I need a convenient nonresident euro account.
I'm looking for the ...
9
votes
2answers
349 views
Anonymity through paying by bitcoin
I am considering the VPN service Privateinternetaccess. One of it's payment methods is bitcoins. As described on this page paying with bitcoins strengthens anonymity. In contradiction, this page ...
3
votes
2answers
389 views
Are there mixing services or online wallets that are explicitly compliant with anti-laundering laws?
I'm interested in mixing services (0% taint) that are compliant with the most conservative anti-money laundering laws.
My goal is to have anonymity between peers in a transaction, but to remain ...
1
vote
1answer
294 views
Is there a website that tracks Bitcoin taxes paid to local government?
One thing that would further legitimize Bitcoin with government oversight is the payment of relevant taxes to Federal and State government (in local equivalent currency) for e-commerce and mining ...
1
vote
0answers
83 views
What additional actions should an ethical Bitcoin-related business take with each transaction?
I'm considering starting an ethical business for users that accepts Bitcoin as a payment. My intent is to abide by all laws and interpret them in an appropriate manner.
My intent is to abide by ...
5
votes
2answers
194 views
If miners pay income tax, could a change in tax laws affect network security?
Assuming that more than half of the Bitcoin miners pay taxes on revenue gained, could a increase in income tax laws (or similar) cause those ethical miners to go out of business? ... and the Bitcoin ...
3
votes
1answer
206 views
What Bitcoin profitability calculators account for taxation on miner income?
If I were to run a miner, I want to be ethical and pay all relevant income tax and gain all required licensing, etc for my country.
My miner income is probably taxed at a 1099 income rate or lower, ...
0
votes
2answers
227 views
Accountability with Bitcoin transactions
In one of the comments to this question Highly Irregular pointed out an interesting legal issue that might arise with Bitcoin. Mainly, if some organisations use Bitcoin (say, Wikileaks) and are deemed ...
5
votes
1answer
212 views
What are the consequences of donating bitcoins to WikiLeaks?
The WikiLeaks website provides a bitcoin donation address 1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v
According to this article from the Sydney Morning Herald, Julian Assange of WikiLeaks has been declared an ...
7
votes
1answer
288 views
Does the U.S. Securities and Exchange Commission govern Bitcoin?
Do SEC regulations apply to:
Exchange of Bitcoin for US dollars
Investing in companies with Bitcoin
An exchange that sells shares of company stock for Bitcoin
Bitcoin futures contracts
6
votes
1answer
502 views
What laws apply to selling / buying bitcoins for USD in California?
Please help me identify any laws that would be potential blockers to selling and buying bitcoins in person.
6
votes
2answers
404 views
Defense from Government Intervention
What's to stop a government, say the U.S. government, from saying "Hey, it's okay if you want to use Bitcoins, but you have to use at least version 0.6.3".
And then a year later changing the law to ...
3
votes
3answers
334 views
Would my ISP consider my Bitcoin client to be a server?
I was reading about Google's Fiber installations, with first deployment in Kansas City. There's a controversy where the terms of service restricts what services can run on their Fiber network.
Some ...
7
votes
6answers
846 views
Is performing a 51% attack / double spend on Bitcoin illegal?
Suppose I had an ultra large ASIC from the future, and could perform a double spend on the core Bitcoin network. At this point in Bitcoin's development, it is no longer a game - there's real money ...
5
votes
1answer
249 views
Has Apple stated its view on legality of apps using alternative electronic payment systems?
An article entitled "Why Apple is Afraid of Bitcoin" discusses Apple's interest in online payments. It also talks about the removal of 2 Bitcoin apps, Blockchain Wallet and BitPak, from the appstore.
...
4
votes
1answer
502 views
What does the FBI think about Bitcoin, in brief?
Also related: The context of FBI involvement with Bitcoin
The FBI document regarding Bitcoin that was leaked in May 2012 is very long. Is there a brief summary of the most important points somewhere?
...
3
votes
0answers
313 views
The context of FBI involvement with Bitcoin
A number of articles appeared recently linking to a leaked document about Bitcoin written by the FBI. Here's one.
What involvement or interest has the FBI had with other alternative currencies, such ...
-2
votes
1answer
489 views
Fundamentals of a Bitcoin Lottery [closed]
I'm relatively new to Bitcoin but love the idea and will soon be accepting bitcoin in my own companies. (We provide online training/e-learning.)
But, just for fun I've set up what I would like to ...
10
votes
3answers
896 views
Is Bitcoin a currency?
This question seems to be asked every now and then when legal status of Bitcoin is discussed - Is Bitcoin a currency? What are the characteristics that would make it a currency, and what makes it ...
4
votes
1answer
956 views
What is the story behind MtGox and their French bank?
MtGox has their French bank account closed last year, as the bank stated they aren't legally allowed to undertake the activities they were doing in regards to trading Bitcoins. There have been a few ...
3
votes
1answer
277 views
What is the story behind US senators wanting to “crack down on Bitcoin” in mid-2011?
There have been two US senators, Charles Schumer and Joe Manchin, wanting to "crack down on Bitcoin" in mid-2011. How did the story start, progress and did it reach any conclusion?
3
votes
1answer
280 views
How do lawyers view Bitcoin?
Have there been any articles or presentations about Bitcoins in any influential or respected law-related websites or perhaps interviews with notable lawyers or the like?
4
votes
1answer
353 views
How do I legally set up an exchange?
I'm asking about legal concerns, not technological ones. If I'm based in the USA, should the exchange be a US company? If not, where should it be based?
How is banking set up?
7
votes
1answer
1k views
Has any illegal data been saved in the Block Chain?
Has any illegal data been saved in the Block Chain, such as an illegal number, or illegal prime?
10
votes
4answers
3k views
Do you have to pay taxes on Bitcoin revenues?
Disclaimer: this is not legal advice, and this varies from country to country.
If you accept bitcoins as payment, do you have to pay taxes on that? And would you have to write an invoice? Since they ...
13
votes
9answers
1k views
Is there any way the Bitcoin network could resist a viral tainted-coin tagging system implemented by regulators?
Already it's possible for MtGox etc. to detect spends of coins that have certain well-known thefts in their history. If regulators forced audits on exchanges and key popular merchants, as well as ...
5
votes
2answers
297 views
What are the qualities of a country that might make it more or less likely to freely allow Bitcoins or crypto-currencies?
As some examples which seem logical to me, but should only be taken as examples:
A government that is susceptible to commercial lobbying is probably more likely to be pressured by banks to disallow ...
