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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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 ...
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1answer
227 views

How does the U.S. government view Bitcoin? Is it money?

How does the U.S. government view Bitcoin? Is it a currency, a commodity, or something else?
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533 views

From a legel perspective, are Bitcoins "created" by a miner or the Bitcoin Protocol?

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 "...
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7answers
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Do USA-based miners need to register with FinCEN?

As seen in recent news, FinCEN has issued a statement on its classification of virtual currencies: http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html Hypothetically suppose I mine ...
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250 views

Can I force my company to pay me in Bitcoin

I just got my bank account closed. Reason: International payment were not supported I don't like to waste my time in bank formalities. I am a programmer. I wish to stay technical for most of the ...
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1answer
266 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, ...
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289 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 ...
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1answer
944 views

Buying from country A, selling in country B

I was curious as to whether is it legal/allowed to buy bitcoins (from a friend for example) from another country where the value is less and then sell the bitcoins in the UK, for a profit. I'm new to ...
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1answer
125 views

Can bitcoins be exchanged for nonlicensed "Professional" services?

Can Bitcoins be exchanged for professionally licensed services by persons who are NOT licensed? For those folks, receiving cash would normally be a Blackmarket Racket since only licensees, the ...
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134 views

Using Bitcoin ATM in NYC

I'm new to Bitcoin, so I'm grateful for anyone's patience with my perhaps uninformed questions. I live in NYC and I'd like to buy some Bitcoin. I understand that due to a recent law, exchanges ...
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112 views

Police raid home of bitcoin 'founder'

Recently, WIRED released an article about an alleged creator of Bitcoin being raided by the police. Briefly, the article mention the following: Police raid home of bitcoin 'founder' Craig Steven ...
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1answer
195 views

Are there any publications about deanonymizing Bitcoin?

At the Model United Conference I attend, there is a resolution proposed to de-anonymize BTC in order to cull Darknet transactions. I know it is impossible but how do i prove it to the other delegates?...
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57 views

Any advice for attorney accepting bitcoin?

I just started accepting bitcoin for potentially anonymous legal consultations. Does anyone out there have any advice for how to accomplish anonymous yet legally confidential attorney relations? I ...
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883 views

Is Bitcoin a corporation?

Does Bitcoin have legal status as a corporation? If so, what kind, and in what jurisdiction(s) is it registered?
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Can I issue digital currencies in instead of shares in a business?

Are there any restrictions as to whether you can use digital currency to fund your new business? Instead of selling stock offer DC for cash?
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1answer
70 views

Do foreign bitcoin exchanges need to be liscensed in every US state?

I read something about this, but it seems pretty unenforceable. I understand US-exchanges need to be liscened as money transmitters in every state, but how can US states fine a foreign entity for ...
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173 views

Is it legal to buy things internationally for Bitcoin from India?

I want to buy educational videos from someone in the USA, who offers them privately for sale as a digital download. He accepts Bitcoin. I'm purchasing them from India. Would it be legal for me to ...
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2answers
201 views

Can you inherit bitcoins without the private key?

Since the private key is needed to validate ownership, how does it work when you cannot access the private key? Say X owned bitcoins and willed it to Y, but Y does not have X's private key. Say X's ...
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449 views

Is there a legal way and free way to open a Bitcoin exchange in the United States?

I've been doing some reading on the state of starting a Bitcoin exchange in the United States, and I have a couple of unanswered questions. 1) What are the legal fees and process for starting a ...
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Are Bitcoin / Cryptocurrency free & paid "Faucets" illegal in the USA?

I was wondering if Bitcoin faucets were illegal in the USA? What about a paid bitcoin faucet where you pay in other coins to get a few cents worth of BTC?
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How safe is my USD deposit at Bitstamp?

With Mt.Gox probably going insolvent/broke in these days, how safe is my USD account balance with Bitstamp? Is Bitstamp as a company registered with some financial institutions? Are customers USD ...
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1answer
94 views

Can I use my Bitcoins to buy household commodities just like ordinary money?

Can I use my Bitcoins to buy household commodities just like ordinary money? You see, I'm a newbie and have yet to learn the basics including all the facts about Bitcoins. However, I want to be ...
5
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1answer
416 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. Bitcoin Virtual Currency: Unique Features Present Distinct Challenges for Deterring Illicit ...
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486 views

Ramifications of illegal content in transaction messages?

Would it be possible to make using Bitcoin illegal by posting child porn or similar highly illegal content in the message of a transaction? There are methods for having 'thin clients' that don't ...
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2answers
113 views

what countries accept and refuse BTC as money? [closed]

I am thinking where to find list what countries refuse or accept bitcoin as money? I read Denmark doesn't make tax for BTC because it is not accepted by the state as money. it has and legal ...
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1answer
2k views

Are there any tools to visualize where the transactions are coming from and going to?

We spent some time doing the visualization of the transaction flow between bitcoin wallets https://bitviz.visalyze.com and wanted to know if there are any tools that can not only track, but also ...
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2answers
707 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 ...
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What does the US government do with seized coins?

It was reported today that the US government shut down the web site Silk Road, where people bought and sold things (allegedly including illegal drugs) using Bitcoins. The operator was arrested, and ...
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1answer
455 views

Is it legal to trade bitcoins on coinbase/mtgox in the US?

I am just wondering whether it is legal to trade bitcoins in the US just like we do for stocks? I see similar legal questions about selling OTC, but I am more interested in buying and selling in well ...
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1answer
2k views

How to file bitcoin income to the IRS as a nonresident alien

I am a Chinese student in US right now, and my taxation status is Nonresident Alien. Since IRS has announced bitcoin as "property", I just wonder how to define my gains from my sell of bitcoin in US....
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1answer
248 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 ...
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3answers
347 views

How can I tell whether transactions were (not) made via BitPay / Coinbase?

Background Recently, Rep. Steve Stockman posed for a photo op with his Bitcoin address on a big QR code, which got shared. He has a Bitcoin donation page which asks for identifying info and goes ...
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4answers
380 views

How do I start accepting bitcoins legally in Canada?

I own a business and I want to know how to accept bitcoins for payment and whether it is legal to accept them in Canada? For example, if someone pays me 2 bitcoins for a computer, do I need to charge ...
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2answers
150 views

Class action suit against Mt. Gox?

This NY Times article says a Chicago law firm is representing Mt. Gox customers in a lawsuit against that company. I had a small about of bitcoin in a Mt. Gox account. The law firm has not contacted ...
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331 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 ...
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1answer
193 views

Bitcoin Casino Questions [closed]

I am developing a bitcoin dice based game. I am located inside the US. Do i did a gaming license to operate. Is it completely legal if not?
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385 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 ...
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3answers
953 views

Is BTC and Crypto Currency Illegal in USA

My close friend who is the biggest currency rebellion I know. He introduced me to Bitcoin. Earlier he told me about some guy called Nothaus who created currency, in HI. However he got arrested for it. ...
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BTC for political donations?

When I am asked to make donations, I assure the requester that I will donate if they accept BTC. Initially, that gets a blank look, but I wonder how it might change if more of us took that approach. ...
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2answers
372 views

At what point does the criminal get caught?

Settle an argument for me. Assume a criminal does the following: 1: goes thru trash to find a cancelled check 2: using a wifi hotspot like McDonald's and "Hide my ass" buys bitcoins with stolen bank ...
6
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1answer
138 views

Official Canadian source saying bitcoin is not legal tender?

I've been reading a lot that Canada no longer considers bitcoin legal tender. "Only Canadian bank notes and coins are recognized as legal tender in Canada. Bitcoin digital ‘currency’ is not legal ...
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1answer
454 views

What future can bitcoin have if more and more countries will ban it?

As of today, Russia added itself to a list of countries that ban bitcoin operations. So is there a future for bitcoin (and other cryptos) if more countries are going to ban them?
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1answer
584 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 ...
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2answers
7k views

Correct use of the word Bitcoin [duplicate]

I'm still unsure when to use Bitcoin and when bitcoin is more appropriate. Did anyone define when to use the word Bitcoin with a capital B? Is one used to talk about the currency as in "3 Bitcoin" and ...
4
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1answer
364 views

Can I be held liable if a gateway vanishes?

I'm beginning to wonder what my liabilities may be once I start using a system like Ripple. For example if a gateway I'm using (say Bitstamp) suddenly vanishes, could I, as a user of Ripple and ...
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1answer
269 views

Do bitcoin exchanges based outside of the US who serve US customers have to register with FinCEN as MSBs?

From what I understand, Bitstamp is not registered with FinCEN, whereas Mt.Gox is, does this mean Bitstamp is in danger of being shut down?
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1answer
360 views

Are Ripple IOUs e-Money under European law?

It has been confirmed by multiple sources that Bitcoin is not electronic money according to EU Directive 2009/110/EC, mainly because it does not represent "a claim on the issuer" and does not have a "...
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2answers
669 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
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1answer
279 views

Are bitcoin wallets money service businesses (MSB)? [closed]

Do hosted wallet services located in the USA need to register with the fenCEN as a MSB?
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1k views

Tax implications in Canada of buying and selling Bitcoins?

What taxes should be paid in Canada on Bitcoin transactions? Has anyone gotten official advice on this? Is it relevant whether the Bitcoins were mined, received as payment for services, bought and ...