to add to this, Can you escape fincen rules, by using pre paid cards. Is selling a card considered selling a "Good" therefore bypassing selling your bitcoin for cash?
I'd thought about that, I doubt it's a "good".
Topic: Pre-loaded bitcoin cards (Read 721 times)
I'd thought about that, I doubt it's a "good".
to add to this, Can you escape fincen rules, by using pre paid cards. Is selling a card considered selling a "Good" therefore bypassing selling your bitcoin for cash?
Warning: I'm just typing out thoughts right now, the idea is still in it's infancy... gotta record it somewhere and have people to bounce ideas off of.
I know someone is already making a card, https://i.imgur.com/FgnuS7G.jpg, so it's not a completely new idea. My thought is to go legit with a business doing that, meaning register as a money transmitter or whatever else you have to do for FinCEN and all that other crap.
Does anyone know anything about getting registered/licensed for that (time, cost, etc)? I've only done a little research into it so far and I'm just confused by it all. Probably doesn't help that I'm slightly sleep deprived and hungover currently.
More to follow later, just the initial ideas down on 'paper' now.
I know someone is already making a card, https://i.imgur.com/FgnuS7G.jpg, so it's not a completely new idea. My thought is to go legit with a business doing that, meaning register as a money transmitter or whatever else you have to do for FinCEN and all that other crap.
Does anyone know anything about getting registered/licensed for that (time, cost, etc)? I've only done a little research into it so far and I'm just confused by it all. Probably doesn't help that I'm slightly sleep deprived and hungover currently.
More to follow later, just the initial ideas down on 'paper' now.
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