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Questions tagged [legal]

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. Please do not ask for legal advice.

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26 views

Bittrex toke my BTCP tokens [closed]

As some of you recall, we had the BTC ZCL fork this year. For those who had the ZCL on the Bittrex wallet, they were convert to BTCP, but Bittrex wasn´t trading, but it was allow to keep those tokens ...
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0answers
25 views

Is Ripple a money transmitter under FinCEN regulation? Do they have a Money Transmitter license?

FinCEN guidance states that "An administrator is a person engaged as a business in issuing (putting into circulation) a virtual currency, and who has the authority to redeem (to withdraw from ...
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1answer
205 views

Is there a way to report/shutdown a Bitcoin Criminal/Bad-Actor?

I received a SPAM/Phishing/Blackmail email demanding payment to a specific Bitcoin wallet. BTC: 15vUqauqHybEPvXYLv97WW4XwM2YHXYC1d How can this criminal be shutdown? If legal action is ...
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1answer
39 views

Reject transaction because of illegal data

We already know there is illegal data on the blockchain and it will be on there for ever. That got me wondering about the potential legal implications for miners, since they are technically endorcing ...
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1answer
226 views

Scammers using bitcoin [closed]

Scammers using bitcoin. The following Japanese email is interpreted. I hacked into you. Pay with my Bitcoin account. Otherwise, I'll reveal your privacy." This is a serious threat and a crime. If ...
2
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2answers
109 views

Does it make sense to design a mutable blockchain?

I work in a large consulting firm which is marketing a mutable blockchain solution to its clients. But I personally fail to grasp any advantage of using a blockchain design if you are discarding ...
2
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1answer
51 views

How would a governmental Bitcoin ban work in practice?

How does a potantial Bitcoin ban work in practice in a regime that a.) at least partially allows access to the Internet, and b.) has at least one payment system that is not closely monitored by the ...
2
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1answer
31 views

Accepting Bitcoin for Services Rendered with Legal Verbiage on Set Coin Price

I accept Bitcoin and Ethereum for consulting work, but would like some feedback for Service Type Agreements that span upwards of a 1-year in an enterprise setting. What's the best method for ...
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0answers
23 views

Bitcoin mediators and legal aspect of the matter

We will need to accept payment by cryptocurrency (BTC, etc.) from the Americans to an American company under a client contract with it, using an intermediary (mediator BTC-BTC, BTC-USD). How does the ...
1
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1answer
70 views

How come a company partners with Bitcoin?

I was checking out the Bitcoin website, and I've noticed something that I can't stomach : The Bitcoin network is growing at an impressive rate and Bitcoin.com is forming new and lasting ...
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2answers
72 views

What is the source of bitcoin value?

From what I understood, the economic intrinsic value of Bitcoin as a currency is based on the "CPU-work" required to produce them. That is what makes Bitcoin rare enough to qualify as a currency. Is ...
2
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2answers
117 views

Blockchain and user rights to ask for personal data removal

Some countries (France with the CNIL, and more generally European - but probably many other - countries) have laws that give the right to users of online services to ask for permanent unsubscription / ...
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0answers
39 views

Legal steps to creating a mining farm and accepting investor capital?

I'm currently in the process of building my own farm and I have been having a lot of trouble sorting through all of the legal work. For example, I couldn't open my business account with chase because ...
0
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1answer
48 views

Does Bitcoin have a legal expert/team that does their work? [closed]

Does Bitcoin have a legal expert/team that does their work? (yes, they - a group of interested individuals (the Bitcoin team) even though they have no formal association - are a decentralized network ...
2
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0answers
410 views

How do exchanges like ShapeShift, Changelly or Evercoin cope with KYC/AML regulation?

They don't require any information about their users. Most of the exchanges require user identification: so even though exchanges like ShapeShift might have corporate account on the large exchanges ...
1
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2answers
167 views

If someone bought an old computer and found Bitcoins in it, could they use it (legally)?

Let's say someone bought a used computers which has a copy of a bunch of Bitcoin keypairs. Is he legally allowed to transfer them? Is this case analogous to finding a pile of cash inside a used bag?
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1answer
47 views

Can Bitcoin be “shutdown” if energy consumption for mining is heavily regulated?

Can Bitcoin be "shutdown" or heavily hampered if energy consumption for mining is heavily regulated? Can transactions still be processed if mining for new coins is hampered? I am thinking it would be ...
1
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1answer
37 views

What legal items should I know about if I am piggy-backing off of another bitcoin exchange?

I am thinking of starting a crypto exchange in the US, and I am piggybacking off of AlphaPoint's exchange for liquidity's sake. What legal documents should I be aware of if I am piggy-backing? FinCEN ...
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0answers
58 views

Do bitcoins count as income in the UK?

I am interested in mining bitcoin here in the UK. I have done a quick search and cannot find anything relevant. If I were to use a cloud mining service to mine bitcoin, would it be counted as income ...
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0answers
24 views

Legally shuttering miners and full nodes by adding illegal information to blockchain [duplicate]

In many jurisdictions possession or distribution of certain information or content is illegal. Illegal primes, classified information, magnet links to copyrighted torrents, hate speech, outlawed ...
0
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1answer
620 views

Is it legal to buy concurrency in USA [closed]

I would like to seek for your help since I would like to have confident answers on the following questions: (please include links for official websites) Is it legal to buy & hold currencies (such ...
1
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1answer
85 views

Technological contractor for an ICO legal advise

I was recently offered to hire my services to create and maintain a cryptocurrency. My responsibilities would be to create a website and issue the tokens While I think the project as some merit, I am ...
2
votes
2answers
297 views

Is buying bitcoin with paypal legal without laundering concerns?

I'm a software developer, and I want to make a website that allows users to sell bitcoin instantly for paypal cash without the hassle of an exchange - I don't even want to make a profit from it. The ...
0
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0answers
48 views

Do I need a license if i want to organize of the bitcoins exchange?

I want to create my own international bitcoin stock exchange, but I want to clarify whether a certain license is required to create the stock exchange or can I easily create my stock exchange? If a ...
5
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2answers
94 views

Best way to distribute bitcoin to heirs in a will

I see on [bitaddress][1] you can generate a split wallet. That's where multiple parties have to each submit their "share" keys to generate the combined private key. So the hard part, the math, has ...
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1answer
177 views

Commodity vs. Currency

Some countries view Bitcoin as a commodity, some see it as a currency (and some ban it, but that's another story). I read a few articles, but in layman's terms, what are the main differences about a ...
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2answers
441 views

Pump & Dump communities. Are they legal?

There are several communities that allow anybody take part in their "movements". They say, for example, that at 7pm GMT they will announce an altcoin name and people would rapidly buy this coin on a ...
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2answers
127 views

Do cryptocurrency exchange sites work and operate like a regular bank?

I have come across cryptocurrency exchange sites (for example, coinbase, bittrex, etc) and I was wondering if they operate like banks. What are the (usual) legal requirements in order for a site to ...
0
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2answers
546 views

Exchange-based vs over-the-counter (OTC)

I read an article about China ban on exchange, which mentions that ... the ban on exchange-based cryptocurrency trades will not extend to over-the-counter (OTC) transactions. I am confused over ...
2
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3answers
140 views

Can my internet provider see I'm using bitcoin core (Russia)

I live in Russia and bitcoin is prohibited here. Can my internet provider see I'm using bitcoin so I will have problems? UPD: Right now I'm still syncing bitcoin core. Is syncing as dangerous as ...
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0answers
101 views

Can I raise a lawsuit against a bitcoin wallet provider?

I think I'm not only one on this boat. I have bitfix bitcoin wallet, it's installed on my phone as it's phone's app anyway, it's got option to create login and password so obviously it connects to the ...
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2answers
130 views

Indian Government is trying to legalise Bitcoins in India. Why?

The Government of India is trying to legalise bitcoins. So, say I would purchase 25 bitcoins by paying in Indian Rupees to a 'X' Bitcoin company. In turn, my identity could be know by that 'X' online ...
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2answers
58 views

Are there any laws that govern the use of crypto currencies in the international law?

I want to start up a Bitcoin exchange in Kampala Uganda but I want to first know what the law says on crypto currencies.
2
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0answers
275 views

Is the BTC-e shutdown legal?

The FinCen, dependent of the Deparment of Treasury shut down the BTC-e exchange and prosecuted for: Violation of anti-money laundering (AML) laws; Acts of money laundering such as the MtGox scandal ...
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1answer
301 views

PlexCard Visa : Would it be legal all around the world?

Recently, Plexcoin is to come up in the market with very promising future. Directly, citing from their website, the features include In comparison to Bitcoin (45 minutes), the transactions (deposit, ...
2
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1answer
754 views

Is it legal in Egypt to sell BTC, and is that available there?

My friend from USA is trying to send money to me but he can't do that through Moneygram or WU. So he asked if it's possible to send the money through Bitcoin. So, I'm not sure if it's going to work ...
0
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1answer
757 views

How old do you need to be to buy bitcoins in a atm? [duplicate]

I've read all the others Q&A and I haven't found the answer to my question or I haven't noticed. I live in Spain and is there an age restriction to use an btc atm (I'm 16)?
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0answers
2k views

Can I buy cryptocurrency being on H1B Visa?

Can I Buy/Sell bitcoin/Ethereum or get involved extensively in cryptocurrency? If so how much capital can I invest? I am currently on H1B Visa and wanted to get some insight on this. Thanks!
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1answer
228 views

Is it legal to buy Litecoin and sell those within a few minutes?

In US, is it legal to buy and sell cyber currency within a few minutes?
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0answers
37 views

Buying/Operating Bitcoin ATM

I am looking for some assistance in gathering the correct information about starting to buy/run/operate a bitcoin ATM in Los Angeles, CA. I would like to start with one and expand to multiple areas. ...
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1answer
489 views

Bitcoin regulation by country

I am looking for a straightforward Bitcoin regulation list accepted in each country. About how it's legal, illegal or denied and if it's legal is there any specific rules in each country?
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3answers
287 views

If Bitcoin is not controlled by the state, how come in some countries it is illegal?

From my understanding, Bitcoin is decentralized and not controlled by any company or organization (so, for example, no bank is behind Bitcoin). However, this seems to not be powerful enough to resist ...
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2answers
448 views

How can I officially prove that a Bitcoin private key is owned by an entity?

I am the co-founder of an early-stage startup that aims to prove existence of various qualifications (academic, professional...) via the Bitcoin Blockchain. In order to validate a piece of data, an ...
0
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1answer
61 views

Bitcoin conversion with comingled funds

If hackers convert stolen money into bitcoin and then deposit the money into a regular commercial bank assuming that they stole like 100 million dollars or more, would it be possible for them little ...
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2answers
3k views

Is PAN or ID card verification necessary to buy Bitcoin in India?

There are many Bitcoin exchanges in India but all of them require PAN or others documents to validate identity. However, the Central Bank of India i.e. RBI has not given Bitcoin the status of a valid ...
3
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0answers
74 views

What is the legal status of a p2p fee taking App for matching bitcoin sellers/buyers? [closed]

I want to make an App in the US which would help bitcoin sellers to find buyers for cash in a local area. The app would not hold any bitcoin fund, it would only serve as a tool for buyers/sellers to ...
5
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1answer
53 views

Is there a central repository that states a country's latest policy on bitcoin?

The legal status of bitcoin changes from country to country, to include a wide range of policies from acceptance to outright banning it.
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3answers
6k views

Do I need to pay taxes if I sit on (do not use) bitcoins?

I've done some reading on the IRS bitcoin guidelines and I'm a bit confused how the capital gains taxes works. If I buy some bitcoins in Jan, the value of the bitcoins double by the of the year but I ...
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1answer
133 views

Who is liable my case or is it a classic hack?

Recently i purchased a Bitcoin from BITX, the South African Exchange for bitcoin. I purchased 28 Bitcoins from BITX. When they sent me the 28 Bitcoins to my Blockchain iOS app, the Bitcoins were in my ...
7
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1answer
106 views

How can a DAO seek enforcement of a contract?

If a DAO hires someone to perform a task that is not completed according to contract terms, what is the legal remedy of the DAO. Assuming the DAO is not incorporated in any jurisdiction, can DAO ...