Localbitcoin FCA registration in UK | Bitcointalksearch.org

cpu6502

newbie

Activity: 24

Merit: 0

Quote from: LeGaulois on December 23, 2020, 01:57:37 PM

Are you sure only businesses need to apply for this license? Because on the page here , it mentions "Firms and individuals". It doesn't mention only businesses and you're on the "individuals" side as an average Joe

I've no idea, that's why I was asking.

I just got these links from localbitcoin

https://www.fca.org.uk/news/press-releases/fca-establishes-temporary-registration-regime-cryptoasset-businesses
https://www.fca.org.uk/firms/financial-crime/cryptoassets-aml-ctf-regime
https://www.fca.org.uk/consumers/cryptoassets

LeGaulois

copper member

Activity: 2828

Merit: 4065

Top Crypto Casino

Are you sure only businesses need to apply for this license? Because on the page here , it mentions "Firms and individuals". It doesn't mention only businesses and you're on the "individuals" side as an average Joe

I believe that even if once a week you're just selling your bitcoins bought years ago, you fall into that kind of category from my point of view.

- dealing with investments (buying, selling, etc) or offering or agreeing to do
You invested in Bitcoin a while back and you're now getting the ROI+profits.

This, considering you have records of all your Bitcoin purchases in the past, including date, amount, payment reference number. Otherwise, you have no proof it was an investment, and your government may consider the bitcoins falling out of nowhere and charge different taxes.
(I'm not a UK citizen, just suggesting)

cpu6502

newbie

Activity: 24

Merit: 0

I got a message today from localbitcoin.com that traders need to register in the UK for a FCA license to trade next year.
I've looked on the FCA website and it mentions only businesses that are trading. It never mentions about private individuals trading.

I use localbitcoin.com. I sell bitcoins now and again, perhaps once a week, that I brought years ago. I don't buy and sell, only sell.

I'm not a business, just a private seller dribbling out my stash now and again. Would this require FCA registration does anyone think?

Topic: Localbitcoin FCA registration in UK (Read 61 times)