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.

Filter by
Sorted by
Tagged with
0
votes
2answers
48 views

Why do several exchanges not comply with KYC regulations

I am doing a research project about Crypto regulation. From what I read, Know Your Customer and Anti-Money Laundering compliance from exchanges are legally required in the US. However, a quick search ...
17
votes
4answers
1k 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 ...
2
votes
1answer
58 views

Can a wallet/exchange provider ask for transaction details

My question has two parts, Am I obligated to share transaction details with my wallet/exchange provider for any payment I made to an individual, like subscription to a website? Irrespective of the ...
0
votes
1answer
84 views

How can I determine how much "gains" I've had from Bitcoin?

I bought a bunch of BTC in early 2013. Since then, I've bought very small parts of Bitcoin every now and then up until now, for much larger (and increasing) price. Many of those "original" ...
0
votes
0answers
16 views

Invested in a crypto fund called Xvest.co [duplicate]

I invested in a crypto fund called xvest.co Everytimei ask for payout they ask for withdrawal fees. They say ithas to be paid to confirm the transaction. They also share a transaction id saying that ...
0
votes
2answers
75 views

Is it true that a cryptocurrency exchange could freeze any account with suspicious bitcoins?

You are a law-abiding citizen and you have no idea how the bitcoins that you own now were used before. However, there is always a chance of getting "dirty" bitcoins that were used by ...
0
votes
0answers
30 views

Is there some known LEGAL trick to get out of having to pay Bitcoin taxes for a non-rich person? [duplicate]

I live in Sweden. The demented, people-hating government is demanding 30 % of all profits whenever I touch my Bitcoin in any way, meaning in practice ~30 % of the sum, period. This means that, not ...
1
vote
2answers
59 views

What are the implications of El Salvador's legal tender law to bitcoin's legal classification in other countries?

It is my understanding that foreign currencies have a specific legal framework in many jurisdictions, for example that an exchange from one currency into another is not subject to tax. At the same ...
8
votes
6answers
2k 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 Bitcoin-...
17
votes
7answers
8k views

How can government "seize" bitcoins?

Last year the U.S. Department of Justice posted this press release claiming U.S. "law enforcement seized several thousand Bitcoins on November 3, 2020." How is it possible for anyone to &...
3
votes
3answers
432 views

Does it make sense to design a mutable blockchain? [closed]

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 ...
4
votes
3answers
29k views

What's the minimum age to join or use Bitcoin?

What is the minimum age a person must be to use the Bitcoin service?
0
votes
1answer
85 views

If I buy a house for Bitcoin directly, do I owe the government taxes in Bitcoin or in fiat? [closed]

If Sue buys a house for 1 Bitcoin, that is, giving the 1 BTC directly to the person selling the house (no fiat involved), does she have to pay a % of that in Bitcoin to the government, or do they ...
2
votes
2answers
518 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 ...
0
votes
1answer
35 views

Do I need to register my shiny new Crypto with some agency if I want to pay someone with it? [closed]

While I am guessing that, as most anyone can create a crypto and sell it or accept it as a form of payment, that it would be legal to give crypto as a form of payment (as bitcoin originally did with ...
0
votes
0answers
64 views

What is it that frees Bisq from all these KYC/AML laws and regulations?

I feel as if I should probably not ask about this, and instead just quietly go on using it in my little corner, not bringing any attention to its existence, but I still must ask: What is it that ...
0
votes
1answer
95 views

What to do when you genuinely don't understand anything about taxes, yet are apparently expected to pay them for your Bitcoin?

I've just read a massive webpage from Swedish Tax Agency about Bitcoin. I'm not trying to "be cute" here, but I must say that I didn't understand a single thing of it. I understand Swedish ...
1
vote
1answer
134 views

Why do people claim that governments cannot confiscate Bitcoins?

Let's say that I practice impeccable data security processes using dedicated devices, encryption, and no clear-text backups. Even if they cannot find all of my backups, this doesn't protect me from ...
1
vote
2answers
80 views

Copyright claim to Bitcoin Whitepaper

As you might know Craig W.(rong) is currently trying to «get» ownership over the BTC Whitepaper. I know this venture might seem ridiculous and harmless, but I believe it can be dangerous because of it'...
5
votes
5answers
7k views

Why is it so difficult to track & recover stolen Bitcoins?

I have to admit I don't fully understand the Bitcoin protocol. But from what I do understand, transactions are traceable -- it is the main reason decentralization works: the world can watch and ...
0
votes
1answer
48 views

Could the "pizza guy" sue now had he not received the pizza? [duplicate]

Let's pretend the guy that spent 10k BTC on a pizza in 2010 did not receive his pizza back in the day (basically got scammed). He shrugged it off as it was only ~20$. He forgets about it, and notice ...
0
votes
1answer
3k 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 ...
3
votes
2answers
231 views

How can the blockchain survive without an army or other kind of law enforcement?

I'm sold on most of the Bitcoin aspects. I believe that the blockchain has incredible potential value and how the fact that it's decentralized removes a lot of the corruption and cronyism that are ...
3
votes
2answers
112 views

Has the BitLicense affected other U.S. state regulators' actions?

What aspects of New York's new BitLicense have most affected New York-based companies already? How have California and other states who are planning BTC policy learned from New York's example? (For ...
1
vote
1answer
498 views

Traveling abroad with my Ledger

In the next months I’m going to travel abroad with my Ledger Nano S. I’ll visit most of the EU countries, Russia, China, Brazil, U.S. and Canada. I’m an EU citizen. I would like to know which is my ...
0
votes
2answers
41 views

Is accepting Bitcoin as a gift save?

I've got certain amount of mBTC from a person I don't know well (we've never met in person, although we chat online from time to time), in the form of them giving me the key for getting access to the ...
0
votes
0answers
27 views

Bitcoin Core Desktop Wallet retaining my coins due to Gap Limit being exceeded

trying to send coins am unable to enter address. have to load from clipboard, cannot copy and paste, address bar goes red, disables send functions. i explore reasons, seems 20 unused address gap limit ...
3
votes
3answers
632 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
votes
1answer
383 views

How to turn my bitcoins into legal money

For a while now I have been mining and have now got 5 Bitcoin which I'm ecstatic about as it means once I have the money for it, I'll be £13k richer and can put a deposit down on a house. Whilst I ...
-1
votes
2answers
144 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 ...
6
votes
3answers
8k 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 ...
2
votes
2answers
56 views

How is it legal to award miners with coins made out of nothing?

I understand that block rewards are made out of nothing but say a miner wants to cash out on all of their bitcoins... this will lead them to obtain, let us say, the USD equivalent of all the bitcoins ...
2
votes
1answer
85 views

Bitcoin Private Key question

Thanks for your great content. I've got a question regarding Bitcoin Private Key. If a hacker stole a Private Key and took possession of the coins by entering the Private Key into his own preferred ...
4
votes
1answer
742 views

Is it legal to use bitcoin in a domain name?

Is it legal to use bitcoin in a domain name? Not a sub domain, but in the main domain name.
7
votes
2answers
366 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) Technical ...
5
votes
6answers
2k views

If I were to generate an address and it happens to collide, legally speaking, would a transfer constitute theft?

Let's say that somehow I generate a new address which happens to already be "taken". I realize the chances of address collision are extraordinarily low as per Is it possible to brute force bitcoin ...
2
votes
4answers
937 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?
2
votes
1answer
805 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 ...
4
votes
2answers
12k views

Is it legal to use rented dedicated servers to mine?

I've got several dedicated servers which I'm renting for about 250 Euros from a big hoster (OVH). These server are used for things like ssh/scp, SVN and Git servers (for private repositories), HTTP ...
1
vote
0answers
51 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 ...
4
votes
5answers
2k views

How to file bitcoin income to the IRS

I want to check if there is any specific tips how to properly file income from speculation with BTC to the IRS. Also is there any specific report from the Coinbase available?
0
votes
1answer
53 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 ...
16
votes
7answers
29k views

Did I just get defrauded by Coinbase?

I bought 10 bitcoins, 4.5, and .4 on Oct 18/19 @ around $150-160. On Oct 24, within almost the hour that the coins were supposed to arrive, I receive the following email for all 3 transactions: On ...
1
vote
1answer
188 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 ...
2
votes
1answer
84 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 ...
5
votes
2answers
115 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 ...
2
votes
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!
2
votes
1answer
41 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 ...
1
vote
1answer
87 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
1answer
98 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 ...