Questions tagged [usa]

Questions that are specific to the USA only, i.e. on government policy to Bitcoin, or laws and regulation regarding usage and purchase of Bitcoin.

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20 votes
5 answers
2k views

Can I use bitcoin as a means of bypassing Argentine Dollar restrictions?

I am planning on doing some small-time buying/selling with a friend who is in the States. I am in Argentina and I do not have a way of reimbursing him in Dollars for products that he buys, sends to me,...
  • 201
18 votes
7 answers
7k views

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 ...
  • 705
9 votes
2 answers
37k views

What is the cheapest way to deposit money into a Bitstamp account from the US?

What is the cheapest way to deposit money into a Bitstamp account? They offer a number of ways, but what is the easiest for someone in the US?
  • 207
8 votes
2 answers
672 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
  • 871
8 votes
1 answer
425 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 ...
7 votes
2 answers
527 views

Does an exchange of only virtual currencies fall under FinCEN regulations?

If a business only exchanges between say bitcoin, litecoin and namecoin. No fiat currencies. Does it still fall under finCEN's regulations?
  • 149
7 votes
3 answers
12k views

Using btc-e in the United States and depositing/withdrawing USD into btc-e?

I am located in the United States, and was wondering about the complications of using btc-e to make trades in the USA, such as the complications in depositing and withdrawing money in the form of USD. ...
6 votes
1 answer
300 views

What are the consequences of donating bitcoins to WikiLeaks?

The WikiLeaks website provides a bitcoin donation address 1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v According to this article from the Sydney Morning Herald, Julian Assange of WikiLeaks has been declared an ...
6 votes
3 answers
9k 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 ...
4 votes
5 answers
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?
  • 143
4 votes
3 answers
4k views

Why do most trading platforms require ID Verification?

The vast majority of the Bitcoin trading platforms both in the US and the UK require some sort of ID verification in order to make Deposits/Withdrawals. Is this because of these two countries current ...
4 votes
1 answer
81 views

US Taxable Events for using Bitcoin for purchases

Is there any initiative to try to deal with the way Bitcoin is taxed in the United States with respect to using Bitcoin to pay for things without triggering a taxable event? Possibly a threshold being ...
  • 181
4 votes
1 answer
342 views

What is the story behind US senators wanting to "crack down on Bitcoin" in mid-2011?

There have been two US senators, Charles Schumer and Joe Manchin, wanting to "crack down on Bitcoin" in mid-2011. How did the story start, progress and did it reach any conclusion?
  • 42.8k
3 votes
3 answers
765 views

What happens if the US govt. bans Bitcoin?

They can do that because they are the US govt. What would be the likely consequences of the ban?
  • 119
3 votes
3 answers
2k views

Are there any online services available to exchange prepaid cards into BTC?

I live in the USA. I would like to use prepaid cards to buy some BTC (less than $100USD) I've tried trucoin.com and the wait time is enormous, 4 days since sign up and still haven't received an invite....
  • 31
2 votes
3 answers
1k views

What qualifies as proof of residency for AML in the USA?

I am in a unique situation of not owning or renting property and no need for utilities. I've tried to contact several exchanges to find out what are all the acceptable forms of proof of residency, ...
  • 115
2 votes
2 answers
2k views

If I send Bitcoin from the USA to a friend in India, do I have to pay capital gain tax on it if he sells it and makes a profit?

Let's say I buy $10,000 worth of Bitcoin in the USA, which I transfer to my friend in India. He sells it for $11,000 and keeps that money himself as I have gifted him that Bitcoin. My questions: ...
  • 29
2 votes
1 answer
809 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 ...
  • 21
2 votes
1 answer
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?
2 votes
1 answer
457 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 ...
  • 1,033
2 votes
1 answer
304 views

Is there a US broker for Bitcoins?

Apparently, there is an Australian trading house, Bit Trade, that will trade currency for Bitcoins or vice versa. Is there a U.S. equivalent?
  • 464
1 vote
1 answer
719 views

Do all Banks and Credit Unions in the U.S. accept Bitcoin?

Do all Banks and Credit Unions in the U.S. accept Bitcoin for deposits or withdraws?
1 vote
1 answer
48 views

Do we Need Pay Tax for Mining for US Govt

Do you need to pay Taxes for US Govt for doing Bitcion Mining.?? I am in Singapore and mining through one of my friend in US. Will the US Governement will issue TAX on My Name..?? Is it Legit ..? ...
1 vote
1 answer
84 views

Keep Wallet Safe While Entering United States

I'll be traveling to the United States soon, and I've read that civil asset forfeiture laws may allow customs agents to take/keep crypto currencies. Is there an easy way to keep my wallet safe from ...
1 vote
1 answer
239 views

Bitcoin Tax Question

I have three scenarios that I have a question about related to bitcoin, the IRS< and taxes. I tried asking the finance types, but they didn't seem to really understand bitcoin and cryptocurrencies,...
1 vote
1 answer
229 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?
  • 113
1 vote
2 answers
6k views

How to cash out E*Trade stocks (transfer funds from US to the EU) with Bitcoins?

My company has an employee stock purchase plan with etrade.com, but as I'm in Europe, I thought I could sell the stocks and save the bank transfer fees by using bitcoins. You can sell the stocks ...
  • 415
0 votes
2 answers
102 views

What does the IRS tax in terms of bitcoin practices

What of the following do I put on the tax form that I got money from a website for viewing ads, donating money, turning gift cards into bitcoin, buying gold, putting money into a bitcoin savings ...
0 votes
1 answer
32 views

US Tax: Does a wallet exchange "count" for tax loss harvesting?

When selling your coin for the purposes of tax harvesting, would it be sufficient to transfer the coin into another wallet, and then back again, or does the coin have to be exchanged for fiat, and ...
  • 101
0 votes
1 answer
107 views

What bitcoin exchanges are based in the USA?

What are the names and Web site addresses of popular bitcoin exchanges based in the USA? These exchanges should support account funding via ACH transfers from US bank accounts.
0 votes
0 answers
24 views

Is it legal in the US to incorporate in a different state to trade cryptocurrencies?

I know this isn't specific to Bitcoin but I thought this community would know best. I live in New York where there are stringent rules about crypto trading. I did a survey of 44 exchanges last weekend ...
0 votes
0 answers
73 views

Does the US hold almost all of the bitcoins?

It seems to me that most of the people involved in this bitcoin market are from the US. Are there any statistics that can confirm this? Also, related question. If this is indeed true, is it ...
  • 568