gambling for bitcoins: is there any legal precedent? - page 2.

BillX

member

Activity: 112

Merit: 10

Quote from: indio007 on July 26, 2011, 01:04:50 PM

Why would he speak to attorney? To get fleeced?

Send a letter to your State AG and The US AG and ask what their legal position is.
I'm sure they won't claim an interest until you convert into gov't issued currency.

I would much rather be "fleeced" then fined or jailed before starting a venture of borderline legality.

Your AG is just going to tell you the law. Your attorney is going to tell you how to apply the law to your benefit.

Rassah

legendary

Activity: 1680

Merit: 1035

SecondLife used to have in-world casinos that let you gamble using SecondLife's currency. They eventually had to ban that, because there was an obvious link between exchanging USD for SLL and back, just to gamble. Though the issue there could have been that all of SecondLife's servers are residing within US territories, or that SecondLife SLL currency is still minted and owned by a US corporation.

indio007

full member

Activity: 224

Merit: 100

Why would he speak to attorney? To get fleeced?

Send a letter to your State AG and The US AG and ask what their legal position is.
I'm sure they won't claim an interest until you convert into gov't issued currency.

BillX

member

Activity: 112

Merit: 10

You need to speak to an attorney. Don't be stupid and take legal advice forum an online forum.

toast

sr. member

Activity: 1582

Merit: 253

Suppose I make a site where users gamble their bitcoins. Suppose it gets popular. Should I go ahead and get hosting outside of the US? What exactly do gambling laws say about virtual currencies?

Topic: gambling for bitcoins: is there any legal precedent? - page 2. (Read 4029 times)