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Title: Mainstream adoption will mandate playing by the rules Post by: ganabb on June 02, 2013, 06:04:03 AM http://pandodaily.com/2013/05/17/bitcoin-is-legal-but-mainstream-adoption-will-mandate-playing-by-the-rules/
A number of questions remain unanswered regarding the current Department of Homeland Security (DHS) case against Mt. Gox in particular. But contrary to the concerns of many conspiracy theorists, a paper published in March by the Financial Crimes Enforcement Network (FinCEN) makes it clear that decentralized digital currencies, such as bitcoin, are legal. (The agency also opined on other alternative currencies such as e-currencies, e-precious metals, and centralized digital currencies.) Title: Re: Mainstream adoption will mandate playing by the rules Post by: TheButterZone on June 02, 2013, 06:18:38 AM They are only legal if you can afford to pay $7 million for 50-state bonding to be able to exchange them for USD, or leave the U.S. to exchange them for fiat (to strip the U.S. nexus altogether). This makes them practically illegal for all but the pre-bitcoin (aka businesses who are threatened by bitcoin's competition) 50-state MT/MSBs to exchange, such as PayPal, Western Union, etc.
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