Topic: Bitcoin Attorney Will Answer All Questions: - page 2. (Read 19909 times)

The above answer was not made by George D. Greenberg

I have never made any claim that I could "reconcile all legal matters concerning cryptocurrencies," nor would I ever make such a ridiculous claim. Of course laws are different in different countries and of course laws vary state by state. I only offer advice for matters in the United States. If I believe that there are state specific laws that may apply I always make note of that where appropriate. There are however many laws that are federal or apply to most states similarly, in those cases I attempt to offer what I can and no more.

You have made a point regarding obtaining local counsel, which is always a good idea, but you have made your point by making false statements and assumptions of what I have and have not answered here and that is inappropriate and misleading.

George D. Greenberg, Esq. 

If you are doing this all by yourself all for yourself then your conclusions are correct.

Best:

George D. Greenberg, Esq.
www.attorneybitcoin.com

Hello Kind sir. First of all I would like to thank you for taking your time to answer our questions on this forum.

I'm currently a NON-US Resident with family members being US Residents. A few years back we registered an LLC with the intention of exporting products to other countries but it never came to reality.

Present day Im putting up a project of investment with a few friends and family members and we want to start a very small BTC mining operation (around 6-10 machines). I am in charge of all the tech part of the project. But also have a few concerns regard its legal implications. We want to do things right from day 1.

First we were thinking of starting small mining at home. So questions comes to mind. If I start mining and im not a US resident should i declare taxes? is there a link or any info you can point me to so i can inform me a little better? The hardware would be @ my mothers house and she IS a us resident. So were a little bit confused here. Since im only going to be here for a few months but the hardware will be left ON up and running.

So, what would you advice? we were thinking of registering a company in which my resident family members can be in front and on that order I think we will have to pay our taxes regarding gain and losses for the company's mining. Is this the best option?

Thank you in advance for your kind attention on this matter.

Best regards,

Angel E. Gimenez.

How do taxes work with cashing out? What if you're a business that pays another business with crypto? How do you account for that? What would contracts need to cover?

While I appreciate the attempt to reconcile all legal matters concerning cryptocurrencies, I do not think the laws of the US applies to all sovereign jurisdictions. Nonetheless, I know for a fact that there are laws that are general in nature, like for instance, common laws; yet again, we have varying laws per State vis-a-vis the policies of ones government and one cannot be made to apply to the other. So, as for me, I think it is still best to consult your local counsels for legal matters.

Thank for taking the time to do this as many of the laws regarding this can be rather confusing and complex.

As for my question:

If i start a mining farm operation in the Midwest (Indiana or Michigan) do I need to get an MSB license. From my understanding of FINCEN I would not need one as long as I am NOT providing a service or selling to an individual. If the company exchanges the crypocurrency for Fiat on Coinbase, which has a MSB license, would we be covered by proxy since we are not actually selling to an individual or providing some service to others.

A following up question would be in regards to using NiceHash. Since Nicehash sells hashing power to an individual, you as a miner are technically providing a service for someone, thus needing an MSB license. So at that point would we not be able to use Nicehash. or am i misunderstanding this?

Do you or do you know anyone who can help file a lawsuit regarding a scammer person and a website- Purse.io that facilitated his scams? i have the evidence.

Hello Mr. Greenberg,

What is your opinion of Florida's Money Laundering Statute regarding buying and selling Bitcoin online and in person for cash?

https://www.coindesk.com/floridas-money-laundering-statute-wont-affect-most-bitcoin-users/

Thank you.

BCFX1

Any legal agreement/contract is enforceable I could write down on a piece of paper a contract of you paying me $20 for 5 sweets and I would be legally required to follow that contract too the letter the same as you.

In the US, if businesses were to pay each other with crypto, would contracts be enforceable? How would accounting of those funds work if you never cash out?

I have Green Card for about 2 years. For the last 1.5 years I lived mostly outside of US (except 35 days).
I have crypto that I bought N days ago, if I sell it now then since I am GC holder I will need to pay capital gain taxes. My question
what if surrender my GC? Do I need to pay any US capital gain taxes if I sell it next day after GC surrender (after visit US Embassy)?

Like many, I have opted not to advise New York State residents regarding their BTC laws. It is a sub specialty that is unique to your beautiful state. New York tends to lead the nation in many things. 

Hello dear,

Considering the law and new bitcoin regulations created by Dept of finance, it's very unlear for most of new yorkers whether trading crypto is legal or not. Many would hide their identeties. As a proud resident of new york city - am I eligible for trading crypto in NYC ? Bittrex is claiming that they carry bitcoinlicense which supposely makes their services legal in new york. Can I use their services without being punished for law violation? Or do i need to move to another state such as New Jersey?

What are the legalities for running a website like https://satoshibox.com and https://xmrlotto.com? Their terms are fairly poorly-worded. What troubles are they likely to face? I have a million ideas like this and I'm just too ignorant of the law and figure I'll end up getting sued or something. I'm in the UK, but I'll take the US answer over none at all.

When I find some time to study law in Canada I'll let you know. I'm an attorney licensed in the State of Nevada, United States. I'm sure that there are attorneys in Canada that can answer your questions. Perhaps google the same. Vancouver always sounded like a nice place to me. I hope to visit there one day. Good luck.

What can you say about tax laws in Canada for bitcoins?

If I was to cash out bitcoins do I have to pay tax or is there no law for it yet?

THE ABOVE ANSWER DID NOT COME FROM GEORGE D. GREENBERG.

If you are making profit, you are responsible for any taxes on that profit. However, you have only made theoretical fiat profit. Until you convert to fiat or purchase goods and services with the profit then you have not realized a fiat gain. So yes, keep track, consult a CPA or Tax Attorney and by all means pay any taxes you owe.

There is no question that there are overlapping explanations and some conflict. 

George,

I just sent you a PM. When you get a chance please read it.

Thanks!