Questions tagged [regulation]
31 questions
30
votes
2 answers
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 BTC 26000 was seized. (Source: New York Times).
A…
Nate Eldredge
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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 BTC and sell it on MtGox for USD. Do I need to…
Streblo
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6
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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?
Patoshi パトシ
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5
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2 answers
What is a brief summary of the ECB's report on virtual currency?
On 29th Oct 2012, the European Central Bank released this report on virtual currency.
What is a summary of its comments on Bitcoin?
Highly Irregular
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5
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Which country has the most friendly regulatory environment?
There has been a lot of discussion of the most oppressive jurisdictions. Which countries have taken notice of these failures and have set up the best regulatory environment to attract Bitcoin related investment rather than chase business away?
Jun Li
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4
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1 answer
Rolled out my own no-fiat service. What will the tax man need?
Background:
I have programmed my own service using https://bitcore.io and I have a limited company set up in the Uk! My company's original intention was to deal with Paypal transactions. (but we are now going to only use Bitcoin!)
We plan to only…
Ben Muircroft
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3
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5 answers
What money transmission licences are relevant to Bitcoin?
Tradehill was shutdown for various regulation issues, including not having the required money transmission licenses.
What were the money transmission licenses that were required?
What other compliance rules should be followed?
makerofthings7
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3
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Official currencies in Japan
Now that bitcoin has been recognized as a medium of exchange, rather than a commodity subject to certain taxation in Japan, is it the only such one other than the Yen?
Since the pronouncement of course falls far short of declaring bitcoin legal…
Tom Russell
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3
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2 answers
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 example, have other states commented in public on…
ADO
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3
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1 answer
What regulations are in place for Bitcoin in California?
I'm looking for information on Bitcoin regulation for companies.
Since Bitcoin is commodity, if you are a company and selling bitcoins you need to have license.
What are the licenses and regulators working with them? I am interested in creating a…
Leo
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3
votes
3 answers
If most G20 nations ban bitcoins, would that effectively kill bitcoin?
If the G20 nations (or most of them) ban bitcoins doesn't this effectively kill bitcoin? My thinking is that a normal person would no longer have any means of converting bitcoins to the local currency. The only other way this would work, were if…
jti107
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2
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1 answer
Do private people mining or exchanging Bitcoin with Fiat fall under FINCEN's definition of "user"?
Fincen's March 2013 report defines:
A user is a person that obtains virtual currency to purchase goods or services.
An exchanger is a person engaged as a business in the exchange of virtual currency for real currency, funds, or other virtual…
ripper234
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2
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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 specified early exchange (say, Bittrex).
When it's…
Alex Velickiy
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2
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Is there any regulations on buying and selling Bitcoin on eBay?
I see a lot of people selling Bitcoin on eBay. Since the government began regulating exchanges, are there any rules you have to follow now to sell Bitcoins on a site like eBay? Additionally, are there any rules you have to follow when buying from…
Nathan2055
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Bitcoin trading: security
I have seen different trading websites on Bitcoin and a question came to my mind:
Security
Why do they require so much identity verification? If I remember correctly MtGox (despite what later happened) when it started, it didn't require any id\bank…
Mark Thompson
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