Topic: Is it illegal for me to sell my Bitcoins? - page 9. (Read 26851 times)
legendary
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I dont think that exists 'money transmitter' its yours you do anything u want with it.
of course it is legal
bitcoin it is yours and it is your right
bitcoin it is yours and it is your right
There is usually a limit on the amount you can sell without getting problems..
You can read the BurtW story about his arrest here https://bitcointalksearch.org/topic/burtw-arrested-update-charges-dropped-934268 and https://bitcointalksearch.org/topic/m.12224120
it is bitcoin you and it is your right, I think it legal long as there are no state laws prohibit
its it illagal the trade exchange sites of bitcoin they are on for years i dont think soo btc its legal to have and buy and sell tyhe only thing its when its gets to your bank acount the $ € Yen you may pay taxes just it
Here in Malta such sale is not yet regulated, so it falls under the general provisions of the Income Tax Act, and is taxed according to the amount sold. Basically, you pay tax on the profits earned if the money used to buy BTC has already been declared and taxed, or on the whole amount if the money used to buy the BTC has not yet been taxed and declared. I'll leave it to you to decide which is better. If you need any more info regarding such issues, feel free to contact me, as I am a lawyer specialising in Bitcoin and Virtual Currencies.
may depend on the area you live
your country may not allow the use of currencies other than the currency in your country
your country may not allow the use of currencies other than the currency in your country
Yes it is legal. In europe it should be no problem for you to sell your bitcoins, maybe in china you should be a little bit careful.
When the amount here in germany is under 10.000 Euro they even check it where the money comes from.
But when you sell a lot more, than you should declare it.
When you dont do it, you can be charged for tax evasion.
When the amount here in germany is under 10.000 Euro they even check it where the money comes from.
But when you sell a lot more, than you should declare it.
When you dont do it, you can be charged for tax evasion.
SO basically you can't be a market maker but if you make an account at an exchange, sell it there and then withdraw the money , its legal?
Well I sell my btc only to coinbase, I am a USA resident.
I should be safe. But if you live in New York and do this it may not be legal. New York has added some very strict laws. It may come down to many states doing this and coins get driven to a darker spot. Or Nevada says fuck it and becomes the Las Vegas of BTC.
BTCGuild is closing due to New York laws:
https://bitcointalksearch.org/topic/closed-btc-guild-pays-txfeesnmc-stratum-vardiff-private-servers-49417
I think it serious to learn for Me, but in My country, Indonesia, I am sure the Govt really doesn't care much, even I don't know yet, that they are knowing bitcoin or not ?
I was thinking of using localbitcoins, but this is all just so absurd. Its not money, right? Or is it? Best of both worlds fo rthe government but they make the rules, and they are bought by the banks to make rules. Why pay 50$ to wire money to your family over seas when you can pay 2 cents to send it with bitcoins? I think the banks are behind all of these bizarre regulations, and they want to limit the usefulness of bitcoins.
You're right, it is absurd when banks ask so much fee to send money oversees and bitcoins offer a very cheap alternative to do that but until it gets a legal status there will always be problems because governments don't know whether you're sending/receiving money to/from your family or you're doing money laundering, which is why if you receive or send money oversees, you might have to do a lot of explaining and/or you might get charged doing so.
I was thinking of using localbitcoins, but this is all just so absurd. Its not money, right? Or is it? Best of both worlds fo rthe government but they make the rules, and they are bought by the banks to make rules. Why pay 50$ to wire money to your family over seas when you can pay 2 cents to send it with bitcoins? I think the banks are behind all of these bizarre regulations, and they want to limit the usefulness of bitcoins.
AFAIK what the did in florida was not entrapment. Entrapment is when they get you to do something illegal, like if an undercover agent offers you a blow job for 50$. They didn't do this, what they did was more like asking if they could borrow money to pay the prostitute. It is a fine line, but important to know the difference.
AFAIK what the did in florida was not entrapment. Entrapment is when they get you to do something illegal, like if an undercover agent offers you a blow job for 50$. They didn't do this, what they did was more like asking if they could borrow money to pay the prostitute. It is a fine line, but important to know the difference.
I heard that some people have been arrested and charged with "transmitting money without a license" for selling Bitcoins.
Does this mean it is illegal for me to sell my Bitcoins?
Does this mean it is illegal for me to sell my Bitcoins?
Yes is the short answer. You need to be a MSB with a transmitter licenses in your state. You also need to file and do KYC/AML. This law may change if we stop fighting each other and engage with lawmakers. How much can be done to stop you or even discover your activity is a different question. But for the moment if you are caught don't try fighting your sentence. You will only lose more money to a lawyer.
SO basically you can't be a market maker but if you make an account at an exchange, sell it there and then withdraw the money , its legal?
yes.
to put it simply, it's just like any other currency. you only get arrested if you earned those btc by doing illegal stuff.
Well it depends on where you live.
But actually, being in a grey area and unlegislated should actually give you some protection. You shouldn't be able to be arrested for something that isn't illegal.
But actually, being in a grey area and unlegislated should actually give you some protection. You shouldn't be able to be arrested for something that isn't illegal.
SO basically you can't be a market maker but if you make an account at an exchange, sell it there and then withdraw the money , its legal?
People have been arrested for selling Bitcoin?
What country is it and could you put a link to where you read it?
What country is it and could you put a link to where you read it?
there was a recent arrest about a guy known here in the forum, he traded bitcoin face to face, and they have seen him... apparently
also this
http://www.deepdotweb.com/2015/03/27/breaking-sheep-marketplace-owner-arrested/
People have been arrested for selling Bitcoin?
What country is it and could you put a link to where you read it?
What country is it and could you put a link to where you read it?
you can get arrested anywhere on earth if they suspected you of conducting illegal activity (like money laundering)
a year ago a couple of guy got arrested in florida for that reason
People have been arrested for selling Bitcoin?
What country is it and could you put a link to where you read it?
What country is it and could you put a link to where you read it?
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