Author

Topic: unlicensed money transmitter - Is that true for people collecting rare stamps? (Read 1033 times)

full member
Activity: 168
Merit: 100
Some people collects stamps, baseball cards and spend a lot of time selling them, buying them. Are those people unlicensed money transmitter too?

No.

Is the higher frequency of exchange from fiat to bitcoin the main reason to be considered a money transmitter?

That is part of how the regulatory authorities decide where to draw the line, yes.  Practically, though, money launderers have not gotten much use out of the collectibles trade.  If they ever do, the regulatory framework could conceivably change to include it.
legendary
Activity: 1176
Merit: 1001
minds.com/Wilikon
Some people collects stamps, baseball cards and spend a lot of time selling them, buying them. Are those people unlicensed money transmitter too?

Is the higher frequency of exchange from fiat to bitcoin the main reason to be considered a money transmitter?
Jump to: