7

Please help me identify any laws that would be potential blockers to selling and buying bitcoins in person.

Sam Weinberg
  • 821
  • 1
  • 6
  • 14
  • 1
    As a commercial, for-profit service, or, for instance, trading them to and from just friends, relatives, coworkers, etc on an infrequent basis? (There's a difference, so that's why I ask.} – Stephen Gornick Sep 24 '12 at 21:06
  • Assume a for-profit service. – Sam Weinberg Sep 25 '12 at 10:12
  • Hey, are you still there? – Sam Weinberg Sep 27 '12 at 08:13
  • 1
    I am, but I don't know the answer. I am not a lawyer and if this is a for-profit service I'ld recommend you get legal advice. California is not a state that is necessarily friendly to money transmitters (see https://www.facecash.com/legal/ca.html for an example) but whether buying and selling Bitcoins makes you a money transmitter requiring licensing is not something I can answer. – Stephen Gornick Sep 28 '12 at 16:40
  • I think California should be the same as anywhere else. See this: http://bitcoin.stackexchange.com/questions/337/what-are-the-legal-processes-that-someone-would-have-to-go-through-in-order-to-g?rq=1 – Joseph Havens Nov 25 '12 at 15:15

1 Answers1

2

I am not a lawyer but I think this Bitcoin Magazine Article should be informative. As far as case-law goes I would check out the bitcoinica bankruptcy suit as well as the tradehill bankruptcy suit

Kinnard Hockenhull
  • 2,423
  • 3
  • 26
  • 36