Please help me identify any laws that would be potential blockers to selling and buying bitcoins in person.
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1As a commercial, for-profit service, or, for instance, trading them to and from just friends, relatives, coworkers, etc on an infrequent basis? (There's a difference, so that's why I ask.}– Stephen GornickSep 24, 2012 at 21:06
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Assume a for-profit service.– Sam WeinbergSep 25, 2012 at 10:12
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Hey, are you still there?– Sam WeinbergSep 27, 2012 at 8:13
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1I am, but I don't know the answer. I am not a lawyer and if this is a for-profit service I'ld recommend you get legal advice. California is not a state that is necessarily friendly to money transmitters (see facecash.com/legal/ca.html for an example) but whether buying and selling Bitcoins makes you a money transmitter requiring licensing is not something I can answer.– Stephen GornickSep 28, 2012 at 16:40
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I think California should be the same as anywhere else. See this: bitcoin.stackexchange.com/questions/337/…– Joseph HavensNov 25, 2012 at 15:15
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1 Answer
I am not a lawyer but I think this Bitcoin Magazine Article should be informative. As far as case-law goes I would check out the bitcoinica bankruptcy suit as well as the tradehill bankruptcy suit
answered Dec 31, 2012 at 1:10
