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Title: Is it legal to run a crypto only btc/altcoin exchange in the US? Post by: mflb94 on December 15, 2013, 12:41:42 AM I know a lot of bitcoin companies have been having problems with US regulations but those all had a common denominator: they also deal in fiat. If it were only dealing with cryptocurrency I think it could potentially work. And if you are knowledgeable of the subject I would appreciate it for insight, also would I need to do account verifications?
Title: Re: Is it legal to run a crypto only btc/altcoin exchange in the US? Post by: caminilegroup on December 15, 2013, 12:44:49 AM You need to consult an accountant and lawyer. Barracks lawyers don't count.
Title: Re: Is it legal to run a crypto only btc/altcoin exchange in the US? Post by: Gator-hex on December 15, 2013, 01:15:26 AM I don't think you can refuse to take legal tender for your goods and services.
So that's the catch-22 to your plan right there. ;) https://www.google.co.uk/search?q=define+catch+22 The only way around it is to operate in international waters. https://www.google.co.uk/search?q=seasteading it's been going on since he Pirate radio stations of the 1960's http://en.wikipedia.org/wiki/Principality_of_Sealand Title: Re: Is it legal to run a crypto only btc/altcoin exchange in the US? Post by: mapsi on December 15, 2013, 02:44:43 AM At some point youre going to cash that into fiat and thus lies the problem. A MTL should do the trick if no new regulations are passed.
Title: Re: Is it legal to run a crypto only btc/altcoin exchange in the US? Post by: caminilegroup on December 15, 2013, 03:08:50 AM Cryptsy is based in Florida and deals only with alt-currencies - no flats. fiat* Title: Re: Is it legal to run a crypto only btc/altcoin exchange in the US? Post by: Sindelar1938 on December 15, 2013, 03:33:46 AM Cryptsy is a very interesting company
Any idea who the folks are behind it? US guys presumably Title: Re: Is it legal to run a crypto only btc/altcoin exchange in the US? Post by: asr on December 15, 2013, 03:41:15 AM I know a lot of bitcoin companies have been having problems with US regulations but those all had a common denominator: they also deal in fiat. If it were only dealing with cryptocurrency I think it could potentially work. And if you are knowledgeable of the subject I would appreciate it for insight, also would I need to do account verifications? I don't really know if the US Government has any official stance on cryptocurrencies yet. You might have to consult lawyers about this (although I think that they all might have differing opinions on the subject). Also, if you would want to make sure that you can run such a site securely to protect yourself from any external attacks by hackers. |