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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3answers
803 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 ...
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0answers
292 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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2answers
589 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 ...
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2answers
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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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1answer
167 views

Is it acceptable / encouraged to ask for ID and keep a photocopy for OTC Bitcoin transactions?

Suppose a business wants to get into the OTC Bitcoin business. It will need to comply with AML laws. It is acceptable / encouraged for such a business to ask for photo ID and keep a photocopy? Does ...
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1answer
174 views

Does this FinCEN Document mean the Bitcoin Network is a bank?

Read this document and see if you think they are talking about Bitcoin. Here's an excerpt.. Any individual or group of people engaged in conducting, controlling, directing or owning an informal ...
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2answers
5k views

Are there any legal implications when using localbitcoins.com?

You can get BitCoins for under 100 bucks via CoinBase and there are people on LocalBitCoins who are advertising offers to buy BitCoin for over 100 bucks. The spread is around $10; so I was ...
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1answer
82 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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1answer
3k views

Legal issues / banking issues selling Bitcoins to people OTC?

I'm wondering what the practical / legal limits are on selling Bitcoin as an individual using Craigslist and LocalBitcoins. Will I run into legal issues / frozen bank accounts as I scale this? Right ...
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2answers
104 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 ...
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1answer
51 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 ...
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18answers
12k views

I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?

This is, I suppose, a legal question so I should point out that I'm most interested in US and European law. I made a payment to a company for a product more than a year ago in bitcoin. The amount ...
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0answers
457 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 ...
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6answers
4k views

What is the current legal status of Bitcoin around the world?

Has there been any concrete information about the legality of Bitcoin in any country? Since any information can be injected into the blockchain, then if child porn / copyrighted material is injected ...
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1answer
1k views

Is it legal to start a Litecoin mining pool in the US?

My question is this: Given all the regulations in the USA, is it legal for me to start my own litecoin mining pool here in the US?
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1answer
83 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 ...
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1answer
43 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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2answers
134 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 ...
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1answer
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 ...
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7answers
3k 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 ...
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0answers
61 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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1answer
234 views

Are Bitcoin in Thailand illegal?

I have read conflicting reports on whether Thailand declared Bitcoin illegal or not. What has happened and how did it affect Bitcoin commerce in Thailand? To what degree are there restrictions? I.e. ...
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0answers
29 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 ...
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5answers
925 views

Would it be possible to patent Bitcoin?

Bitcoin utilizes a proof-of-work mechanism to assure against double-spending, as well as providing an example opensource implementation. However, some countries allow software patents, which could ...
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1answer
652 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 ...
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5answers
5k views

Do you have to pay taxes on Bitcoin revenues? [closed]

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 ...
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2answers
59 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.
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3answers
385 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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1answer
495 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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0answers
109 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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1answer
320 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, ...
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3answers
803 views

Selling copies of blockchain database on disc

Is it ethical / legal / at all possible to burn a copy of the Bitcoin (or any cryptocurrency) blockchain to a disc, and then sell the disc? Would there be any additional issues if we included a copy ...
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1answer
844 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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1answer
238 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
40 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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3answers
343 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
649 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 ...
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1answer
63 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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4answers
1k views

What prevents Bitcoins for being used to avoid taxation?

Today, states can follow money trails and transaction histories, usually involving checking bank accounts. As as I understand, It's impossible for anyone else to read your Bitcoin transactions and ...
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0answers
79 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 ...
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1answer
60 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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1answer
152 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 ...
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1answer
115 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 ...
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1answer
419 views

Legal status of Blockchain proof-of-existence TX (USA court)

Is there any real USA court cases with Bitcoin's Blockchain used as an proof-of-existence/timestamp service (without BTC transfer)? Can Bitcoin's Blockchain be used as a 'signing' utility same as ...
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4answers
490 views

Is bitcoin mining a business? [closed]

Just a very quick, and I hope simple question. Is Bitcoin mining classed as running a business? All comments appreciated! Thanks
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1answer
3k views

How old does one need to be in order to mine or use Bitcoins? [duplicate]

How old does one need to be in order to mine or use Bitcoins? Do I need to be 18 years old, or just 13? Is it illegal if a child uses Bitcoin?
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0answers
170 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 ...
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6answers
792 views

For US Tax purposes, is Bitcoin mining more like property, "work to solve a puzzle" or "winning a lottery"?

From a taxation perspective, I think it's important to clarify if running a Bitcoin mining operation is more like property exchange, labor to solve a puzzle, vs winning a lottery that runs every 10 ...
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1answer
390 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 ...
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2answers
527 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 ...