Topic: US Mining Legal Requirements (Read 1258 times)
i think every time you connect to the internet you assume the risk of monetary loss, time lost, user errors, and identity theft from your own behaviors in such open spaces. We the people must continue to let our representatives know how we feel and let them know it is their duty to carry out what we feel.
short answer - I've seen no news on this.
Are there any actual updates as to the requirements for small time miners? Are there any rulings in the works? All I have seen has been a lot of amateur opinion and meetings without resolution for the past several months.
Are there any attorneys out there with some idea on how to go about things that won't drain the ROI away? It would be nice if miners could actually convert to legal tender in order to pay taxes, bills, licensees, fees, and the like legally. The occasional personal use and to restore funds spent on the equipment would not hurt either .
If this shin-dig ended up making any sense, miners would just end up registering with a FinCEN/SEC/IRS/whatever registered exchange or exchanger and convert it if they wished to sell their mined coins. That way it's all recorded with an identity tied to it anyway, which seems to be what the US Government wants. Heck, the exchanges could end up issuing 1099's like a stock broker.
Are there any attorneys out there with some idea on how to go about things that won't drain the ROI away? It would be nice if miners could actually convert to legal tender in order to pay taxes, bills, licensees, fees, and the like legally. The occasional personal use and to restore funds spent on the equipment would not hurt either .
If this shin-dig ended up making any sense, miners would just end up registering with a FinCEN/SEC/IRS/whatever registered exchange or exchanger and convert it if they wished to sell their mined coins. That way it's all recorded with an identity tied to it anyway, which seems to be what the US Government wants. Heck, the exchanges could end up issuing 1099's like a stock broker.
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