The tax guidelines for trading coins are not well-defined in most countries. In general, selling coins
for fiat money profits will likely be taxable. Anyway, only a qualified tax accountant in your country/state
can give best advice on this.
Topic: legality of trading erc-20 tokens (Read 318 times)
Convert them into bitcoin and hodl, why you want to sell them lol
from the moral point of view, however, you are not doing anything wrong, unless you are actually part of the development team of the token and know for sure that it will have zero value soon.
I would also say that the investors that end up holding the bag after a pump and dump is also fault for researching their investment more carefully. I've seen people pissing money at tokens and losing out because they didn't research if the token had any merit.
It's your responsibility to invest wisely.
TLDR; I don't think there's a law regarding selling a token you got for free.
They are tokens and you don't have to provide your Identity to trade them for some other tokens (ETH, BTC). Though you might need to be cautious while converting them to fiat.
Yeah freedom is in short supply these days in the land of the free. There are parts of the United States that would make North Korea look like paradise.
I don't think this is a question a generic lawyers could answer, without racking up dozens of hours of $400/hour research and having to sell a kidney on the Iranian market. I don't think avvo would likely produce an answer because it may be too technical for most attorneys. But it is Better to resolve those questions in advance, as most Public pretenders wouldn't take the time to do any research-and in the no bond police state, you have a right to a government attorney or a law library-not both. Certainly there must be some attorneys who have cryptoexperience who might know right off the bat without having to do research. I don't think filing a pro-se 1983 seeking declaratory relief would produce favorable results given the intent to sell, not to mention it would cost a lot of time and money for so little reward. couldn't find anything on justia for ERC-20 [tokens]. No one wants to be the test case.
But, uh, a simple researchable answer that I could investigate further should be sufficient. In the meantime, I will try to explore justia further.
I don't think this is a question a generic lawyers could answer, without racking up dozens of hours of $400/hour research and having to sell a kidney on the Iranian market. I don't think avvo would likely produce an answer because it may be too technical for most attorneys. But it is Better to resolve those questions in advance, as most Public pretenders wouldn't take the time to do any research-and in the no bond police state, you have a right to a government attorney or a law library-not both. Certainly there must be some attorneys who have cryptoexperience who might know right off the bat without having to do research. I don't think filing a pro-se 1983 seeking declaratory relief would produce favorable results given the intent to sell, not to mention it would cost a lot of time and money for so little reward. couldn't find anything on justia for ERC-20 [tokens]. No one wants to be the test case.
But, uh, a simple researchable answer that I could investigate further should be sufficient. In the meantime, I will try to explore justia further.
LoL
hahahaha ....
why you need to get legal advice? You stolen something or so?
You got some coins for free in airdrop and this is the reason to consult lawyer?
Jesus! Seems freedom (including mind freedom) is in shortage, nowadays.
p.s.
You should contact your lawyer @ $400 per hour, before you applied for free airdrop
hahahaha ....
why you need to get legal advice? You stolen something or so?
You got some coins for free in airdrop and this is the reason to consult lawyer?
Jesus! Seems freedom (including mind freedom) is in shortage, nowadays.
p.s.
You should contact your lawyer @ $400 per hour, before you applied for free airdrop
LoL
hahahaha ....
why you need to get legal advice? You stolen something or so?
You got some coins for free in airdrop and this is the reason to consult lawyer?
Jesus! Seems freedom (including mind freedom) is in shortage, nowadays.
p.s.
You should contact your lawyer @ $400 per hour, before you applied for free airdrop
hahahaha ....
why you need to get legal advice? You stolen something or so?
You got some coins for free in airdrop and this is the reason to consult lawyer?
Jesus! Seems freedom (including mind freedom) is in shortage, nowadays.
p.s.
You should contact your lawyer @ $400 per hour, before you applied for free airdrop
I can't imagine you being at fault here if you do that.
If anything, the dev of a fraudulent token would be at fault.
If anything, the dev of a fraudulent token would be at fault.
from the moral point of view, however, you are not doing anything wrong, unless you are actually part of the development team of the token and know for sure that it will have zero value soon.
I don't think you should be making any financial and/or legal decisions based on the BCT forum. Also, each country and sometimes even the 'states' within them have differing laws, so not knowing your tokens, your country, and your personal situation makes it impossible to answer. Even a real lawyer wouldn't be able to answer your question with the information you gave us.
I was given a bunch of ERC-20 tokens in air drops, and they seem to be trading for a lot of money but not enough to consult a lawyer.
The exchange rate currently is doing well, but I do not see that they have any definite business plan. If I were to sell some of them with the assumption that they will be worth nothing, even if their exchange value is presently higher and people buy them through their own volition on an exchange without any influence from myself, would I be committing an act of fraud? Or would it be like liquidating enron or worldcom after the news became public that the s*** hit the fan.
The exchange rate currently is doing well, but I do not see that they have any definite business plan. If I were to sell some of them with the assumption that they will be worth nothing, even if their exchange value is presently higher and people buy them through their own volition on an exchange without any influence from myself, would I be committing an act of fraud? Or would it be like liquidating enron or worldcom after the news became public that the s*** hit the fan.
Jump to: