Bitcoin Forum

I heard that some people have been arrested and charged with "transmitting money without a license" for selling Bitcoins.

Does this mean it is illegal for me to sell my Bitcoins?

Its kind of a grey area, but I do think in the US, it still might be illegal. But I don't see anyone getting in serious trouble for it, unless you get involved yourself in a large amount of trades .

However in a lot of other countries, the government just doesn't care.

There is usually a limit on the amount you can sell without getting in trouble. You will usually have to refer to local laws of your area to make sure.

Here is a stack exchange question on the same topic I also found : http://bitcoin.stackexchange.com/questions/12559/legal-issues-banking-issues-selling-bitcoins-to-people-otc .
I will just add it to this discussion:

this is from an answer on stackexchange.
Note: This is a US-centric answer. Other countries may differ. I'll add other countries as people leave comments.

1 There is an arbitrary limit of $1,000 per person per day that triggers the necessity to register as a money service business. Stay under that FinCEN is unlikely to care about you, although you still may legally need to register for smaller transactions.

2 As long as a single transaction does not exceed $10,000, your financial institution should not file a Suspicious Activity Report.
You are best opening an account at an institution separate from your personal, general use accounts.

3 Try to keep cash liquid. Buy local, sell local. If you've got enough volume, use money orders to get fiat into your exchange of choice. It'll cut into your profits a little, but it reduces the number of parties privy to your transactions. Do not fraudulently fill out money orders.

4 Keep solid books that include the fiat price at the time you purchased your bitcoin and the price of sale. This will help you calculate capital gains taxes.
Pay taxes. Assuming you're in the US, this means paying taxes quarterly instead of yearly, unless you expect to owe less than $1,000.

5 If you do register with FinCEN, please document the process and broadcast here, on BitcoinTalk, and on /r/bitcoin.
Be truthful, upfront, and, most of all, careful. When in doubt, talk to a lawyer.

if you sell them face to face, there shouldn't be a problem, they can't track you

and if you pay the taxes at the end, i don't see how it would be illegal to sell bitcoin, but i'll try to stay below 1k a day, because of the AML

You still might get in trouble,, as I wouldn't trust cops to just sit back and watch. They might get involved in a trade as well.
Here is an indictment from one of the forum members; http://www.scribd.com/doc/248973784/Bitcoin-indictment     .
Beyond 1000$ you are considered to be running money transmitting business affecting interstate and foreign commerce

Bitcoin is not a recognized currency and is currently being considered as black money. The problem is that many use bitcoins for gambling and illegal trades as one can open a bitcoin wallet without any proof. This is the major reason, it's considered illegal.

Unfortunately, you are right.
but, if you only exchange bitcoin for your private purpose, without gambling or illegal trades involved, i don't see problem here.
I mean, you should have right and freedom to spend your own money in the way you want, if you don't break the law.
Gambling and illegal trades can be illegal but bitcoin shouldn't.

The reason for that is that it comes under consideration to be money laundering, so that makes it illegal

It really just depends on how much you buy and sell. If you are doing massive volumes, without a license, then yes you can expect to run into some trouble. If your just selling a few BTC here and there, I don't see why this would ever cause you any grief.

There's only one answer to this question.

It depends on the laws in your local jurisdiction. You should check your local laws first.


There are always regional differences in laws. Example: You can legally smoke cannabis in Colorado but you can't smoke it in a public place legally.   

But if PayPal or any other recognized payment processor adopts bitcoin as their virtual currency, it would be safer for one to transact in bitcoins as one would need to verify their account and then use bitcoins. They would have to make and receive payments only via these recognized payment processors and thus, bitcoins will not be used for illegal transactions.

I'd mostly worry about ensuring you are properly documenting for tax purposes. The "transmitting money without a license" thing could also be something to worry about if you are doing high volume exchanges.

I've sell bitcoins quite a few times, there's nothing illegal about it, there are some countries where bitcoin is illegal, if live in one of those you need to be extra careful.

Only if you trade in significant amount quantities to be noticed, and do not follow AML/KYC procedures in the USA, basically at the point it's more of a business than a trade/hobby.
Declare it for taxes and you will likely be fine but the legislation does depend on the jurisdiction.

It's a nice grey area where you can find many ways to do it in a way that you wouldn't necessarly get in problems.
The best way tho is to hold and use them, no need to exchange them for inferior fiat to begin with, thats how you avoid all problems.

Yes, it is illegal. You may get arrested and sent to jail for a very long time, and you may not enjoy the sex life there.
You can only give your BTC.

I suggest you get rid of all your BTC as fast as you can. You can send them to my address:
1Ke3QXcSohw6JrFRKtHvF9qhVz4Apandyh

 ;D

Yes is the short answer. You need to be a MSB with a transmitter licenses in your state. You also need to file and do KYC/AML. This law may change if we stop fighting each other and engage with lawmakers. How much can be done to stop you or even discover your activity is a different question. But for the moment if you are caught don't try fighting your sentence. You will only lose more money to a lawyer.

It is not illegal to sell your bitcoin. It is how you do it where you do it at and where you are located. So long as you are following regulation etc then their wont be a problem for you to sell them. If your doing somewhere like Localbitcoin who in a way act like a broker then their shouldent be probem. If you are selling and gaining funds for it ie fiat currency like USD then you need to have a transmit and receive licences id look at local government documents or seek legal advise if you are selling and receiving funds as this is different across the globe. If you do though some site who as the licences in place then you could do though their services them acting as middle man service and then pay your tax on your income and should be fine. But again all comes down to location.

Tell that to that guy who got arrested from Localbitcoins.

To be safe, just sell those bitcoin to exchange site. Dont sell directly to people although the price might be a little higher but its not worth it.

In the USA:
It is perfectly legal. However you have to be careful since even though legal it is an activity the government does not like unless they get their share of Bitcoins ( theft by the government).

My personal commendation would be to keep a "low profle".

if you live near the border in Mexico tijuana they have "user friendly ATMs", however they are only good for small transactions and they are often empty especially in cases when Bitcoin is going down in value.

In the USA, there are also ATMs but definetly not user friendly due to legal requirements.

There is also localbitcoins, and craigslist, be extremely distrustful, the people dealing with bitcoin today are no the same ones that where using the currency 4 years ago.

Most people arrested for selling Bitcoins have been charge for a serious of financial crimes but not for selling bitcoins, but selling bitcoins has been the trigger to all the other financial crimes like "tax fraud", "money laundering", "drug trade", etc., things that have happen to all this people in common the buyer was an undercover cop and told the seller that we was going to commit some sort of crime (entrapment), the seller thinking it is his money I am not babysitting what he does with his money ignores what he says, if you are the seller do not ignore since it is most likely a setup, simple back off and refuse to do the transaction at that point and walk away the average buyer will not tell you he is going to commit a crime even if he is, most people are honest, so most of the transactions are legit.

second point to consider, all the people arrested have been doing large transactions, with bitcoin the money is on the blockchain you are not doing any money transferring, you are technically transferring the ownership of that money, so authorities bully anyone with large amounts of cash. There are many laws in regards traveling with large amounts of money, it is complicated since some laws vary from state to state. At the federal level that amount seems to be $10000.

So to play it safe with people that you do not know, stay well below the $10000 amount, for safety purposes since bitcoins varies in value stay well below $6000, now for extra safety since at the state level they also have rules. most likely under $1000 will keep you out of trouble.

if you follow this rules, you will most likely be safe:

1. use localbitcoins, or craigslist
2. deal in small amounts of cash, under $1000 for extreme safety, avoid going over $10k by all means.
3. take a friend with you, if something goes wrong he is a witness.
4. be anonymous, governments are known to make retroactive laws, so even if you do something legal today that same activity could be illegal tomorrow.

another option, use btc-e is very reliable, but they have high fees for getting the money out.

As a personal preference anonymity is a good thing and in the good old days there used to be anonymous bitcoin exchanges in the USA, the fight by the government to have control of your bitcoins has led for "all" anonymous bitcoin exchanges to be shutdown, some have moved overseas, but the fact that something as "an anonymous exchange" has been made illegal is a sign of bad faith on the governments part, most of the USA anonymous exchanges have been shutdown by force.

so in conclusion selling bitcoins is perfectly legal, but play it safe, playing by the rules is not enough.

many well known bitcoin exchangers have played by the rules and have gotten in trouble due to retroactive laws, entrapment, and other things, so playing by the rules is insufficient, play it safe, have your own rules to protect your safety.

 



 

What if you use CoinBase as your intermediary? Are they not already registered?

What is illegal is for you to be a one man's exchange, you buy your coins at market price and then sell them with a premium at localbitcoins, if you have a significant volume, no licenses, and you don't pay any taxes, that's illegal in any civilized country, if you sell your bitcoins at an exchange, that's as legal as it gets, unless you live in one of those bitcoin banned countries...

It is really mad world where you can be arrested for selling your own coins to people. And I thought that USA is a land of progress and bitcoin prosperity.
US Government should state it once and for all if they find Bitcoin 'money' on par with FIATS like USD or EURO or it is a whole new kind of "paying method"
and thus it require new regulations and specific law.

This is why the USA needs Libertarian leaning politicians. The Libertarian Party actually takes BTC for donations.

Not exactly. While there is some "grey area" here, in the U.S. Bitcoin is considered by federal and state governments to be money in some circumstances, such as FinCEN registration requirements or California's law recognizing it as lawful money (but not legal tender, for those who don't know the difference) while in other circumstances, such as IRS tax requirements, it's considered property or an asset.

While I wouldn't take the risk of going into court with this argument without consulting with a competent attorney, I think my defense if I were to be brought into court for selling BTC without a license would include the fact that BTC is considered property by the IRS and that it is unclear to the government whether it is money, property or both. If it's not money, then you cannot be guilty of transmitting money without a license, it's simply your personal property that you are selling and absent some specific law making that illegal it's legal by default as long as you pay the appropriate taxes. If it is money, that defense doesn't hold water, but at least a court would have to decide one way or another and put an end to some of the confusion.


^ This.. we need more politicians from other parties (not just Libertarian, although that is my own political affiliation) in office in the U.S. The two-party system has failed to give us anything more than the illusion of choice while we continue voting for the "lesser of two evils" and continue having rights taken away by our elected "representatives" regardless of whether they have an "R" or a "D" next to their name.

Even more than this, we need judges in the courts who uphold the laws and the Constitution and refuse to allow the double-standards that the government benefits from when it brings someone before a court on criminal charges (such as Bitcoin being money when it suits the government and being property otherwise.. or hacking being a felony if you or I do it but perfectly ok if the FBI or NSA does it).

It is dangerous.

It depends of amount you wanna sell.

in my country bitcoins not popular, so me for selling bitcoins it still can, and have no rules here(?).
and i think its legal for selling bitcoins here.
for the news can u tell me the link or the news that selling bitcoins get arrested.

To be absolutely safest, just sell through an exchange. Unfortunately, Bitcoin is just one big grey area in the law right now. Most LBC transactions go smoothly, but there was that guy in Miami who was arrested simply for selling coins to an undercover cop (who mentioned during the transaction that he wanted to use the coins for something illegal)

I think that selling on a registered exchange is 100% legal, even for people who live in the USA.

People have been arrested for selling Bitcoin?
What country is it and could you put a link to where you read it?

you can get arrested anywhere on earth if they suspected you of conducting illegal activity (like money laundering)
a year ago a couple of guy got arrested in florida (http://rt.com/usa/bitcoin-florida-laundering-arrest-431/) for that reason

there was a recent arrest about a guy known here in the forum, he traded bitcoin face to face, and they have seen him... apparently

also this

http://www.deepdotweb.com/2015/03/27/breaking-sheep-marketplace-owner-arrested/

SO basically you can't be a market maker but if you make an account at an exchange, sell it there and then withdraw the money , its legal?

Well it depends on where you live.
But actually, being in a grey area and unlegislated should actually give you some protection. You shouldn't be able to be arrested for something that isn't illegal.

yes.
to put it simply, it's just like any other currency. you only get arrested if you earned those btc by doing illegal stuff.

Yes is the short answer. You need to be a MSB with a transmitter licenses in your state. You also need to file and do KYC/AML. This law may change if we stop fighting each other and engage with lawmakers. How much can be done to stop you or even discover your activity is a different question. But for the moment if you are caught don't try fighting your sentence. You will only lose more money to a lawyer.

I was thinking of using localbitcoins, but this is all just so absurd.  Its not money, right?  Or is it?  Best of both worlds fo rthe government but they make the rules, and they are bought by the banks to make rules.  Why pay 50$ to wire money to your family over seas when you can pay 2 cents to send it with bitcoins?  I think the banks are behind all of these bizarre regulations, and they want to limit the usefulness of bitcoins. 

AFAIK what the did in florida was not entrapment.  Entrapment is when they get you to do something illegal, like if an undercover agent offers you a blow job for 50$.  They didn't do this, what they did was more like asking if they could borrow money to pay the prostitute.  It is a fine line, but important to know the difference.

You're right, it is absurd when banks ask so much fee to send money oversees and bitcoins offer a very cheap alternative to do that but until it gets a legal status there will always be problems because governments don't know whether you're sending/receiving money to/from your family or you're doing money laundering, which is why if you receive or send money oversees, you might have to do a lot of explaining and/or you might get charged doing so.

I think it serious to learn for Me, but in My country, Indonesia, I am sure the Govt really doesn't care much, even I don't know yet, that they are knowing bitcoin or not ?

Well I sell my btc only to coinbase,  I am a USA resident.

I should be safe.  But if you live in New York and do this it may not be legal.  New York has added some very strict laws.   It may come down to many states doing this and coins get driven to a darker spot.  Or Nevada says fuck it and becomes the Las Vegas of BTC.

BTCGuild is closing due to New York laws:

https://bitcointalk.org/index.php?topic=49417.0

Yes it is legal. In europe it should be no problem for you to sell your bitcoins, maybe in china you should be a little bit careful.

When the amount here in germany is under 10.000 Euro they even check it where the money comes from.
But when you sell a lot more, than you should declare it.

When you dont do it, you can be charged for tax evasion.

may depend on the area you live
your country may not allow the use of currencies other than the currency in your country

Here in Malta such sale is not yet regulated, so it falls under the general provisions of the Income Tax Act, and is taxed according to the amount sold. Basically, you pay tax on the profits earned if the money used to buy BTC has already been declared and taxed, or on the whole amount if the money used to buy the BTC has not yet been taxed and declared. I'll leave it to you to decide which is better. If you need any more info regarding such issues, feel free to contact me, as I am a lawyer specialising in Bitcoin and Virtual Currencies.

its it illagal the trade exchange sites of bitcoin they are on for years i dont think soo btc its legal to have and buy and sell tyhe only thing its when its gets to your bank acount the $ € Yen you may pay taxes just it

it is bitcoin you and it is your right, I think it legal long as there are no state laws prohibit

You can read the BurtW story about his arrest here https://bitcointalk.org/index.php?topic=934268.0 (https://bitcointalk.org/index.php?topic=934268.0) and https://bitcointalk.org/index.php?topic=1160288.msg12224120#msg12224120 (https://bitcointalk.org/index.php?topic=1160288.msg12224120#msg12224120)

There is usually a limit on the amount you can sell without getting problems..

of course it is legal
bitcoin it is yours and it is your right

I dont think that exists 'money transmitter' its yours you do anything u want with it.

It really depends on how much bitcoin you re trying to sell, if you are selling 2-3 btc then I don't think that the government will care at all. But if you are selling 200-300 btc then this might be a different case.

I think it depends on how much you would sell and area where you live at.

I was arrested for selling my Bitcoins using localbitcoins.com

I paid all of my capital gains taxes on all of my trading - that was not the issue.  The legal issue boiled down to one question:  was I operating a business or not.  They claimed it was a business, I claimed it was not.  After being forced to "donate" about $40,000 in cash and $40,000 in Bitcoin to their Federal Asset Forfeiture slush fund we agreed to disagree and they dropped the charges.  Defending me against the federal felony charge [Operating a business without a license, up to five years in prison and a $250,000 fine] did end up costing us almost $300,000 of our retirement funds, our daughter's college fund, our savings, and the equity in our house.

You can read all about it here:

http://www.jmwagner.com/
http://www.burtw.com/

However, if you sell your Bitcoins though an exchange you will not run into this specific issue since there is really no way they can call it a business, go after you, and then grab all the assets they can get their money grubbing hands on.

If you use localbitcoins to buy and sell a small amount of bitcoin, that is not a business. It is not a money transmitter. But you have declare that you do not deal with drug dealers. The bitcoin you sell should not be used illegally.

Since my case was dismissed before it went to trial this was not decided.  Whether this it is a business or not currently can only be decided by a jury.
Also not true.  You would have to argue this point with motions before a judge and then possibly a jury.  This would have been an argument in my case but again the motions were never filed and the case did not go to a jury. 
And this would help you how?  Sure, if someone says "I am a drug dealer" or "I am an undercover cop pretending to be a drug dealer"  or "I am an undercover Homeland Security agent" then you should not trade with them.  But all of these guys will lie to your face.  Then what?
In my case the only legal issue was whether it was a business or not.  If you use your Bitcoins to do something illegal, for example to buy a controlled substance with them, that would be a whole different case.  Anyway, how would you go about enforcing how the Bitcoins bought from you on localbitcoins eventually get used?

The concept is simple.  If you do it as a business with a profit motive then it is considered a controlled activity.  If you simply want to buy some today and sell some next week then no.  It's no different then buying and selling PM which as a business which also requires KYC/AML.  People start running it as a business and then try to pretend it's a hobby.

Nothing will likely happen if you pay your taxes and it is not from shady sources.

I honestly think the only reason they are against it is because tracking BTC transactions is difficult and sometimes impossible.  I hate to say it, but if the banking system would step in and set some rules for the currency, they they would take away the illegal transaction part of it all and they would be able to regulate it to a point.  I think the reason the only places that this is illegal would be because they can not control it.  You know the governments, they hate what they can not control, but I think they know that we know this and they are working on a system to accept it and will soon take the next step to make it a currency traded on the stock market.  Again, this is my opinion.

I believe that governments are afraid of the bitcoin because for one they don't have any control over it, plus the things that you buy with bitcoin, you don't pay taxes over it, thus the governments doesn't make any money of off it.

In my country, when I buy goods with bitcoin, I pay tax (VAT) on the goods with bitcoin.  The retailer will pay fiat to the government instead of bitcoin.

Its not illegal as long as you're reporting your taxes.

You can be arrested even if you pay all your taxes. 

I was arrested for selling my Bitcoins using localbitcoins.com

I paid all of my capital gains taxes on all of my trading - that was not the issue.  The legal issue boiled down to one question:  was I operating a business or not.  They claimed it was a business, I claimed it was not.  After being forced to "donate" about $40,000 in cash and $40,000 in Bitcoin to their Federal Asset Forfeiture slush fund we agreed to disagree and they dropped the charges.  Defending me against the federal felony charge [Operating a business without a license, up to five years in prison and a $250,000 fine] did end up costing us almost $300,000 of our retirement funds, our daughter's college fund, our savings, and the equity in our house.

You can read all about it here:

http://www.jmwagner.com/
http://www.burtw.com/

However, if you sell your Bitcoins though an exchange you will not run into this specific issue since there is really no way they can call it a business, go after you, and then grab all the assets they can get their money grubbing hands on.

I do not think this is a very heavy enforced rule, just keep amount small and try not to be explicit about your btc transactions

I do not think this means it is illegal to sell, but may be you should be very careful and only use cash

It depends on where you're from. It's best to always report it when you're doing your taxes just to be safe and be sure you won't run into those kinda of problems of having to pay back.

Read through your story. Respect.

Thanks.

Dear Burt,

As a fellow-bitcoiner, I'm terribly sorry to read about your experience and the impact it has on your family's well-being. I think we all know who the real 'terrorists' are.

-Inggrid @Gatecoin

You are providing much needed liquidity to your local Bitcoin economy. Keep up the good work!

I am quite sure that a license is not permitted to transfer bitcoins. Please remind yourself that you may need to comply with your local tax law if you decide to sell.

In some countries/states, if your transactions are over certain limit, you have to apply for a license. Otherwise, it is illegal.

What exactly is the limit in your jurisdiction.  Please give source.

I doubt it very much, i would say that you would only get into trouble if you where making a business out of it and you didnt pay your taxes.  Here in the UK i really dont think there would be any laws against selling your bitcoin as long as you didnt make a fortune, but then thats a whole other issue.  its a tax issue not a bitcoin issue.

I don't think it's illegal until and unless you pay your taxes and Bitcoin is something which you could probably save and keep it secret and spend it when it becomes mainstream without any fear

how can you say that ? and how is it be so? i think it is legal to sell or to keep your bitcoin. it is your property and you have the fully rights to use it according to your own wishes.

i think the possibility that it can be illegal or you can't hold it if you are in north korea because there everything is under the control of their minister even internet.

can you mention any place where people pay taxes on bitcoin. i think still there is not a  single country who have imposed tax on bitcoin. it is still tax free and the reason is that still not a sing le country legalize bitcoin.

What?

In the USA every single Bitcoin sale is taxable as a capital gain.  

The IRS has ruled that Bitcoins are just like any other stock or property: you pay the capital gains tax on the difference between what you bought it for (the basis) and what you sold it for.

If you sell it for a loss then you can figure those losses against your gain just like any stock purchase and sale.

The difference between long term and short term capital gains also applies to Bitcoin sales.

It is not illegal to sell bitcoins,unless the goverment in your country will say that using btc at general is banned.
However buying/selling btc is some kind of a grey area,the goverment does not get taxes for it,and nobody controlls it actually.But it is not illegal in most of countries.

In the US the taxation of Bitcoins is very black and white - not gray.

You calculate the dollar difference between what you sold the BTC for and what you bought them for.  If you have a gain it is taxed as a capital gain.  End of story.  The IRS ruled on this.  If you do not pay the tax you are evading taxes.  Also very black and white.

The taxes are actually the fine point of the matter. You can sell as much as you want, as long as you declare the sales as capital gains so it can be appropriately taxed. Failure to do this is tax evasion, which I absolutely assure you is illegal.

In the United States at least. It could be outright illegal to possess btc in some jurisdictions, period. Follow the law, it's not worth it.

but i think if the bitcoin is stil not regularize and yet not legalize. then how can one pay tax for bitcoin. is there in USA there is a framwork of Taxes for bitcoin. i dont think so. therefore i will like to say that it is not illegal for any one to use sell their bitcoin.

Yes, there is a "framework". It is very clear.

https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance


It is taxed.

is there any virtual currency in USA which is tax payed. i have no idea about this. its mean that you want to say that bitcoin is tax payed currency. i think USA has yet not legalize it.

I think bitcoin is legal because there is no news about bitcoin is illegal to use .. so its legal for me to use bitcoin anywhere..
If they announce that bitcoin is illegal to use why we all here using bitcoin?

if some state declare it clearly that buy and selling of bitcoin is illegal then certainly it must be illegal for the poople of those countries. and those countries who have no statement about bitcoin or those who has consider the buying and selling of bitcoin legal then it is not illegal. then it is legal there.

if selling of bitcoin is illegal then buying of bitcoin will also be illegal. then you buy it. i think selling of bitcoin in some countries will be illegal but just like the drugs but in some countries where they have legalize it there it will be legal to sell or buy it.

The fact that this question even exists is a very bad statement about the public perception of Bitcoin.

i dont think so. i think that is such a simple question. if bitcoin is banned in your country then it is illegal for you to buy or sell bitcoin. and if it is not bane then you are free and you can do buy or sell your bitcoin very easily. so what is wrong in this statement. i dont see any thing wrong in this statement.

It all depends on the country those people are, and the laws operating there. I think they have a bitcoin-ban there, because ordinarily bitcoin is a commodity and you shouldn't need a license to sell goods unless you are dealing with illegal goods. E.g do I need a license to sell books? It depend on the laws of the land.

Try to sell them on exchange and try to withdraw that amount with your bank account with that you will pay all the taxes and also the bank will collect the sources of income from you and so after that you will be free to withdraw any amount you want.

In my country  in Europe they dont really care if I will sell or buy bitcoins from someone.They dont care about anything whatbxou do with your bitcoins in your whole life which is good thimg in my country.

yes and so other countries have the same situation they have not restriction on bitcoin but i think the reason is that still the bitcoin user are not more in number which have any effect on the state economy therefore govt is not taking any step against bitcoin.

As far as the US goes you do not know what you are talking about.

Bitcoins are not banned in the US.  They are considered a commodity for tax purposes.  However:

Selling Bitcoins is not illegal But in some Countries the Government Banned Bitcoin because Government  Thinks that Bitcoin is Not a Safe currency. So According to me, If Bitcoin is banned in your country So don't sell it.....

if it is consider as illegal in your country then it is illegal for you but if your country has yet not given any statement about this then it is legal for you.

That's a hard question, most countries don't care. Although Estonia has banned bitcoin use. Australia has also issued a statement that they will not regulate it's use.

if you are living in such a country where bitcoin is banned. then if you are holding or selling your bitcoin then it is illegal. but if your country has yet not given any statement about bitcoin then it is legal. and you can use or can sell it very easily. without any restriction.

But please, make sure to pay your taxes (if your country requires it, most do). It seems like the taxation is the vector a government is most likely to harass a bitcoin user with, along with regulation (you don't have a license).

It is legal for any person who sell his/her bitcoins, they have full right and full control on their bitcoins and they can do what they want with their bitcoins, by the way the better choice will be that do not sell bitcoins and use your money in the shape of bitcoin, so that we make it a successful currency.

You are so naive.

may be some countries have imposed such kind of law in their country that if one want to trade in bitcoin or do transaction or using bitcoin for any other reason he has to make a license for it as we normally do so for other things, but may be such kind of law is applicable in some countries and not every where because we have no such kind of restriction and we are using bitcoin with out any licence or any thing else.

It is true that we are the owners of our bitcoin and we have full right that we use our bitcoin, sell our bitcoins or hold our bitcoin. and the case that in some countries there is a ban on bitcoin and its usage, the people still can use bitcoin with freedom as bitcoin is an anonymous currency and no one know that who is holding bitcoin and who is using bitcoin.

yes there is no doubt about this that a person has full control on his bitcoin either he want to sell it or buy it or doing any thing else with it, but it is also a fact there you have to obey rules and regulation of a country where you are living, so if a country has banned bitcoin it is not legal to buy or sell bitcoin in that stat and still you are selling or buying bitcoin there then it is really illegal and you are are doing an illegal activity according to the rules of the state.

Best answer.  Agree, just check your local jurisdiction.

but in so many countries there is no definition of bitcoin in their law or jurisdiction. but still government is not accepting bitcoin, in such condition  what should we do. because the government has no statement about bitcoin and still no one is ready to accept it.

What do you mean by "no one is ready to accept it"?  Does this mean you cannot find any way to sell or trade your Bitcoins?  Try https://localbitcoins.com/ and see if you can find someone near you that will buy them from you.

Yup you are right we have a full control of our bitcoins. But i think lot of countries ban bitcoin because of the illegal activities regarding bitcoin like in Deep weeb lot of people buying things and paying it through bitcoin because it is safe and fast. Thats why some countries ban bitcoin.

It varies country to country

yes there is no doubt about this that the bitcoin you are holding is your property, but you are living in a state and you have to obey the rules and regulation of that that, and if you are not doing so its mean that you are busy in an illegal activities, and you will charge for that, therefore if a stage has consider bitcoin as illegal then all activities related to bitcoin will also be consider as illegal, therefore buying and selling of bitcoin is illegal in that state.

Never heard and unaware of that issue before.  Maybe it is because he made a huge transaction.   Because usually if we deposit or better say withdraw a huge amount of money from a bank we could be subjected to investigation.  Or maybe it is beyond the limit amount.   

It is always safe and legal to sell our bitcoins, cause that it was made for.  To invest, to trade, to buy, and to sell like the normal fiat money.

No if nobody from your govrement dont know that you know that they it is leggal beacuse nobody cant punish you but if your country can easy find your transaction then it is not good to sell.

https://fee.org/articles/how-not-being-real-money-is-good-for-bitcoin/

if you are in united stats its too risky otherwsie you can sell it normaly

It's legal to sell Bitcoins in the United States. There are legally setup Bitcoin exchanges like Coinbase, that allow legally exchanging and linking of US bank accounts to buy/sell/trade Bitcoins.

Certain countries do have restrictions like Bangladesh bans people from transaction in Bitcoins and has arrested a couple of people for doing so. The Bangladesh central bank has defined 'Bitcoin' trading as a 'Punishable offense'.

Here in my country its not illegal to sell bitcoins maybe in other country there is restricted
And you will be arrested if you sell bitcoin in your country.

Maybe check any law in your country about selling bitcoin. Maybe you can break a rule by doing that. So i suggest make a quick research. Some countries are not allowed the people to sell their bitcoin especially those countries banned the bitcoin. Here in my country, its allowed anyone who own bitcoins to sell their bitcoins. They are free to do whatever they want to do on their btc as long as it isnt spend for crimes anf other illegal activities.

It is upto which country you are staying, because each and every country have their own law for bitcoins, in my country still bitcoin is not legal or illegal, so we dont give any information. or we say it as short term profit.

Haven't heard that someone got arrested because of selling bitcoins. But i do heard that some countries are forbidding people to use Bitcoin, maybe in that country if they traced you or caught you doing transaction with Bitcoin then you'll get arrested. As long as i know when you are using bitcoin you are anonymous and that is the reason why i use bitcoin to avoid tax also.

You two need to look earlier in this thread at the posts of BurtW.

True,it depends on what country do you live in because some countries banned Bitcoin of such reason but most countries doesn't have any care at all regarding to Bitcoin in fact some countries already adopted Bitcoin by having merchants which accept btc as a payment. In my own view, Bitcoin doesn't have a harmful effect for it should be treated by others as an illegal coin.

So they don't have to bother actually reading the thread:

where on earth you are on?I think there are fefw countries that consider bitcoin illegal but you can always use vpn etc to buy or sell your coin

Wow, can you not just look one post above yours?

yes it is totally depending on the policy of the state, if a state has consider bitcoin as legal currency then you can buy or sell your bitcoin but your state has consider bitcoin as illegal currency and they are not allowing people using bitcoin then it is illegal for you to buy or sell your bitcoin, i think still most of the countries have not yet consider bitcoin as legal currency but still people there using bitcoin illegally.

to me most of the state has yet not given any statement about bitcoin, either it is legal or illegal in their state so in such condition what will be the position of bitcoin, it will be legal or illegal there? in my country as there is no notification about bitcoin from the government side that either it is legal or illegal, but still i am using Allied Bank for withdrawal of my money from  my wallet but first i change it in to USD.

If you earning from selling and buying bitcoins, I mean earning million of dollars. And if you spent that money to show how rich you are, then government will come to ask you did you paid tax for all that? If your answer is no, then you are in serious problem. Just remember even Al Capone was arrested cause of that and he was in prison cause he didn't pay taxes! Be careful, USA is strong cause USA watch for here money very carefully.

i think there are so many other activities which are illegal in our country for example gambling is totally illegal in our state but still people play gamblin g illegal, i think its just for information purposes to know that  either buying or selling of bitcoin is legal or illegal in country.

My theory as to why this thread is so full of shit:

All of the following people are sock puppets for the same person who is building up accounts for sale.

but still most of the countries have no statement about bitcoin, and same is the case in my country, we therefore using bitcoin freely, because there is no law and regulation about bitcoin in our country, i have heard about some countries that they have consider bitcoin as illegal there i think trading bitcoin buying or selling are even using it is illegal in that country.

I don't think it is illegal but if your coutry ban bitcoin, it can be illegal, they may charge you laundry money, steal tax and so forth.

In my country, this is ok, I sell it on exchange and get money from bank transfer.

In some countries it is illegal currency Bitcoin. Or those people have done something illegal Bitcoin  :'(

It may depend on your country if your country have rules like that and they do not want you to use bitcoin and after that hey catch you for doing that then they will arrest you, by the way I have not heard a news like that before here.

i personally have no idea about this, as we are not facing such kind of situation in our country, although bitcoin is not yet announced as legal currency, in previous days i was withdrawing so bitcoin, for this i exchanged it into dollar and then to our local currency using banks, so they asked me for proof that where i got the money i simply give then the statement about bitcoin, signature campaign and receive my money.

Well any profit that you make from selling it should be reported as earnings when taxes roll around.

So it's not illegal but you still must follow an assortment of rules.

i think still no country have any law about bitcion, they have not yet given any official statement about bitcio, may be bitcoin is under their discussion but still they have not given any statement about bitcoin . therefore in most of the states people are still free to use bitcoin according to their own wishes.

I would suggest you to stay refrain from selling bitcoins to suspicious individuals or exchanges. There are some cases where sellers were accused for accepting unethical cash or funds in their bank account.

I am not sure with this but you can try to sell bitcoins by paying a service tax on it (again, I’m not sure it works or not) but have a look on unocoin’s website. They charge certain amount as service tax and pay it to government as service tax collected.

Agreed with enryk there is usually a limit on the amount you can sell without getting in trouble. You will usually have to refer to local laws of your area to make sure.

Vethan Law Firm (http://"http://vethanlaw.com")

I think you should not have to sell your bitcoins but have to keep them in your wallet and whenever you want to buy any thing try to search it on online shops where bitcoin is accepted and when you will need to shop on any shop where you will have to pay with credit card then try to use bitcoin debit card.

As long as you don't do it as a job, you will be fine.

And if you don't live in the US, UK or Germany; you will be fine whatever you do.

Still you better be careful and don't make many money transfers from your bank account.  Too many large amount of money movements from the same account will definitely take attention.

That was weird.  I never heard of that kind of story before.  If they were told that they are illegally transmitting money without a license, would that mean that they were being monitored? 

I do not think that it would happen to me.  Bitcoin is legal in my country.  Maybe those person who were charged with illegal transmission of money may be involved in some crime before.  They must have used bitcoin to cover up some of their illegal activities.  Bitcoin is legal to sell.  Everyone is doing it.

Are you sure that it will not gonna happen to anyone?  It just happened to him and I think we should be more extra careful.  And you are right, maybe some one was charged of transmitting money without a license because they have a case before.  Maybe they sell their bitcoins and then the buyer did not receive anything.  So they was on the watch and then when there was another transaction they were trapped.  As long as we do not do something wrong or fool anyone we are safe with buying and selling our bitcoins. 

yes it is very good feeling if you have the opportunity to use bitcoin directly for buying and selling things but if you have no such facilities available in your area then you must have to convert it in fiat currency but if your state do not allow you to do so and still you converting it in your fiat currency then you are in fact involve in illegal activities.

That would be a hard thing to do.  If your country do not allow bitcoin how come you convert it into a fiat currency.  Maybe you could try something like open an account with paypal and started to do some trading and all the fees will be transferred on your paypal.  Or the only way you could do is to buy products online, then you can spend your bitcoins without making any risk or tagged to be an illegal activity.

Depends mostly on your country, some countries dont have any rules, some completely block it, also in some countries you need to pay tax about it.

True.  It really depends on one's country that he is living in.  Countries that banned or blocked it might not really be interested or did not studies bitcoin's potential.  Since the government would not really benefit from it then there is no reason for these countries to allow bitcoin in their country.  Fortunately bitcoin is allowed in my country and I can have my extra income through this.

i thin still not a single country has given any statement about bitcoin, i think still they do no feel the need to give any statement about bitcoin, therefore ever one is free to use bitcoin either sell it or buy it or hold it,

i didnt know about these things,i thought if you file the income tax returns correctly even your online returns and bitcoin transactions comes under online revenue and you would be fine,personally i dont have any experience since i never sold a huge stash of coins at one time,but i have filed all my returns,about the arrests that OP mentioned i do not think you wont get into trouble unless you deal with illegal items .

You are right we are free with our bitcoins none of the country have control over it and they do not have any restriction over it and I have not heard about any person who has been arrested for the using/selling of bitcoins.

Depends on what country you live in. I think as long as the money is claimed on your taxes, in most countries you should be fine.

If the person is using his bitcoin to sell for online payment processor to get e currency and use them for buying digital services then none of the tax will be on him and none of the government can trace him.
and a lot of people are selling their bitcoins and none of them have faced any issue like that so it means it is legal and with bank withdrawal the government collect its tax etc.

there is another way in my mind if we get a bitcoin debit card which will not need any verification then we can deposit our bitcoin to that debit card and so we will get the money of us which we have in bitcoin that is a good method to sell our coins in our local currency.

if your country banned it to buy or sell bitcoin and still you are selling your bitcoin then it is illegal, but i think still not a single country has declare it as illegal and therefore we can see people from all over the world here in bitcoin world.

yes i agree with you i also not yet hear about any one who is arrested for using bitcoin, buying or selling so still bitcoin is not banned in any country and that is the reason that we can see people fro all most all the countries of the world in bitcoin forum.

if your country do not allow you to sell or buy bitcoin there certainly it is not legal for you to buy or sell your bitcoins because being a good citizin you have to follow the rules and regulation of your country, and if you will not follow the rules and regulation of your country then you will be charge for this,

i do not thing so because still no one country still consider bitcoin as illegal, therefore selling an buying of bitcoin is legal for you.

There is no such rules to make license for bitcoin business. It is completely decentralized and no institution have control over it but yes they could ban bitcoin but they can't force us to make license. That guy who got arrested might be fool and might not have much knowledge about bitcoin business. It's totall fake report but in many countries bitcoin is banned so it might be case of those country.

i think there are no rules and regulation in many country, most of the big country that giving their permission or reject bitcoin for using bitcoin. government don't make any clear statement about bitcoin legacy, and we can still using bitcoin in internet, and for withdraw, i suggest we can use local bitcoin around us to transfer the fiat.

yes that is a fact that still not a sing country has made any serious decision about bitcoin, and yet not they declare  it as  legal currency, but still they also not yet consider it as illegal therefore it is not illegal to buy or sell bitcoin for your or for any other one.

yes in our country there is also no rules define from the government side about bitcoin that either its trading transaction buying or selling are legal or illegal and that is the reason that still we are using bitcoin openly in our are.

yes that is right to say but i think still not a single country given any statement about bitcoin and therefore it is not legal any where to buy or sell bitcoin or do trading with bitcoin.

almost all of the countries of the world have a neutral response when the question of bitcoin comes. I think it is because the governments do believe on bitcoin and know that it will success in the future but they cannot have control on it and so cannot say anything about that.

as most of the countries has not yet consider bitcoin as legal or illegal currency, therefore to me still it is legal for you to buy or sell your bitcoins, and when your country will take any decision about bitcoin and after that you will think about either it is legal or illegal for you to sell or buy bitcoins.

from what country you belong ? and what is your country strategy about bitcoin? if your country banned bitcoin for trading then it really illegal for you, but if your country has no statement about bitcoin like so many other countries the it is legal for your.

it do not illegal for any one but it depend on your county policy, if your country has declare the buying and selling of bitcoin then it is really illegal for you. but i think no one country has yet declare it as illegal therefore it is legal for you to sell or buy some more bitcoins.

Yes, it is illegal for you to sell them.  But you can give them all to me.  PM me for the Bitcoin address to send them to.  Your welcome.

If you live in Colorado.

Colorado:  the place you can't sell Bitcoins on localbitcoins.com but you can legally buy recreational pot at the corner pot store...

Yeah, but you can tax maryjane because people are buying it at a government sanctioned store. They haven't figured out how to directly tax Bitcoin transferred privately between two parties. Once unclefucker figures that out they'll love it.  ;)

i think it depends on where you live. If you live in my country, you will be a criminal cause of selling bitcoin. If you live in Europe, US or other developing countries, selling bitcoin is not make somebody being guilty. These countries also accept bitcoin as payment for many purposes such as bills, tax, fee, food, health insurance, etc. I wish i were born in these countries

in that manner we can also get the benefit of local bitcoins in local bitcoins we can do trade with any person in our country he will send us the money and we will send him the bitcoins so the government will not know that we are selling our bitcoins.

Purely hypothetical scenario that would never happen to someone like you or me:

1 ) You sell your Bitcoins to someone on Localbitcoins.
2 ) The person you sold the Bitcoins to uses the Bitcoins to buy illegal drugs
3 ) The government arrests this person who used the Bitcoins to buy illegal drugs
4 ) The government ask this person "where did you get the Bitcoins"
5 ) Arrested persons says you sold them to him
6 ) Said government then investigates you, your wife, you family, your business for 18 months.  They put a tracking device you your car.  They get all of your phone records and all of your text messages for the last few years (including all deleted texts).  They get all of your bank records from every bank you used for the last few years.
7 ) Finally, frustrated by the fact they cannot find any evidence of drugs or anything illegal they arrest you because they cannot find that you did anything wrong stating you must be a very clever criminal to be able to hide your criminal activity so well they could not find it.  Since they cannot find any evidence of drugs they use one of their favorite ambiguous charges: "operating a money transmittal business without a license" for selling Bitcoins through localbitcoins.
8 ) They throw you in jail.
9 ) You cry like a baby in the shower in solitary confinement in a Federal prison.

well actually it is not illegal to sell your coin, but there is some rules in my country, if it is exceed more than around 8000$ you can be question by the authority, they afraid you are using bitcoin to do money laundry and you should mention how you get that money, if you can answered correctly they won't arrest you, but that is my country it maybe different with your country

i think it totally depend on our country policy that either they consider bitcoin as legal currency or not, if your country consider bitcoin as legal the you can certainly buy it or sell it,

I agree with this in all totality because any law or laws that makes it illegal to sell Bitcoin will actually makes it illegal to acquire it in the first place. However, the laws of the particular jurisdiction is important to determine whether its illegal or not as we have several countries with several laws regarding Bitcoin. While some people law is actually silent or neutral about the whole issue all together others completely makes it illegal and there is nothing any individual can do about it because its the law...

i think it is not illegal in most of area but most likely it depend on  our country policy if they consider bitcoin as legal then it is legal for you to buy or sell your bitcoin, but if your country consider it as illegal then it is illegal for you to buy or sell bitcoin.

It's not a right choice to sell bitcoins, but is not illegal though.
I'm buying bitcoins and I'm waiting till the price grows. It can be higher price, I'm sure.

You could do anything you want, the government didn't patent the source code for Bitcoin.

Would the government do that someday or not?

but i think it depend on the need of the person, if i need money in real life mean in fiat and i have only choice to sell my bitcoin then i will certainly sell i think there is nothing wrong in it.

In fact the use of bitcoin is banned in some countries but I think selling bitcoin excluding illegal action because there is no legal binding that if you sell or buy a bitcoin will be in prison.

i think it depend on our state policiy if you state allow you to buy or sell bitcoin then it is legal for you, but if your state does not allow you then it is really illegal for you.

It is upto which country you are staying, because each and every country have their own law for bitcoins, in my country still bitcoin is not legal or illegal, so we dont give any information. or we say it as short term profit.

i think if your government don't make any statement about bitcoin then its not illegal to sell your bitcoin as long as you don't steal that bitcoin, and you can do that with localbitcoin and the best is you don't have to pay tax.

yes if one can bare to hold their bitcoin and not feeling the need to change it into fiat currency then he can really hold it, but as i have invested most of my assets in bitcoin so when ever i feel then need i use to change my bitcoin in to fiat currency and use it for completing my needs.

yes that is a fact that as most of the states yet given no statement about bitcoin therefore they are not interested in bitcoin users either to stop them from using it or let them continue using bitcoins.

if you live in my country, it is certainly illegal to buy or sell bitcoin. The government does not accept bitcoin in any purposes including buying, selling, trading, etc. That mean if they figure out you are selling bitcoin, you will be arrested according to the laws. So be careful when you try to do any activities with bitcoin here.

Whats Your place can share it with us where do you leave honestly here in my country still done give some announcement about bitcoin can be illegal here. and i think bitcoin is legal here because there is company locally here that you found near to us that we can exchagne our bitcoin into fiat in their website.. Such a good company for me for few months of use i am satisfied with their service and time i can buy or sell bitcoins in their website.. or i can deal to someone near to me but honestly bitcoin is not so popular and few users of bitcoin in my place that i still didnt saw them

but i think know governments have starting some serious thinking about bitcoin and hope that very soon we are going to hear that our state has consider bitcoin as a legal currency.

can you mention the names of the countries where bitcoin is banned? and if their users are using it they put them in prison? and the second is that do you know about any one happening when any government arrest a person for using bitcoin illegally? for me i think i never hear any official announcement that any country have banned the use of bitcoin. and never seen any person who has been charge by the government for using bitcoin.

Hm. Perhaps he lives in South East Asia or some countries in Africa. Those places does not like bitcoin at all. They believe that bitcoin may cause several damage to the government including economy corruption, country's Fiat system. It is hard to buy or sell bitcoin here and trust me, you do not want to be born here

The use or Bitcoin is legal in most jurisdictions of the world. Unless you end up using it for some totally illegal purpose, you won't be in trouble. Just make sure to mention it when filing a yearly tax return.

Sounds a little bit worse than communist Czech Republic of the 70ies, where my parents had the decency to flee from - together with their child. Of course the Czech Republic had also better medical care in the 70ies than Colorado has today, but that's just as an aside.

Rico

Murricans teach their children about how oppressive the British soldiers were during the fight for independence in 1770's. Taxation without representation was a rallying cry for the starving colonists.

The murrica of today is ten times more oppressive to its people than the brits were in the 1770's and unauthorized/unwelcome taxes are commonplace.

Example one:

Then:  

The Boston Massacre, known as the Incident on King Street by the British, happened on March 5, 1770, in which British Army soldiers killed five male civilians and injured six others.

Now:

The Kent State massacre occurred at Kent State University in Kent, Ohio, in the United States and involved the shooting of unarmed college students by the Ohio National Guard on Monday, May 4, 1970. The guardsmen fired 67 rounds over a period of 13 seconds, killing four students and wounding nine others, one of whom suffered permanent paralysis.

Example two:

Then:

No Taxation Without Representation" is a slogan originating during the 1750s and 1760s that summarized a primary grievance of the American colonists in the Thirteen Colonies, which was one of the major causes of the American Revolution. In short, many in those colonies believed that, as they were not directly represented in the distant British Parliament, any laws it passed affecting the colonists (such as the Sugar Act and the Stamp Act) were illegal under the Bill of Rights 1689, and were a denial of their rights as Englishmen.

Now:

In 2014, Burton Wagner was arrested without any crime being committed. His house ransacked and family torn apart in fear while he was dragged off to jail while government militia members stole all his money. They refused to release him from prison without his agreement that they could keep a large block of his money. That sounds a hell of a lot like government taxation without representation to me.

That's why I brought up the communist CZ of the 70ies. I can remember my parents telling me about the life situation. The status of "property". Like they simply could not be sure, some official would show up the other day and confiscate the car or anything else.

https://www.youtube.com/watch?v=3kEpZWGgJks

sounds like 1:1 - and I mean that without any exaggeration. None needed.


Rico

Oh no,i never heard some thing like that and even you are making me feel scary because i regularily sell bitcoins,but seriously i dont think its illegal and anybody can be arrested for that.If that was illegal then how the bitcoin exchanges are running,government will ban them firstly if that was illegal.

If you regularly sell bitcoins on localbitcoins.com you should take the time to read this entire thread:

https://bitcointalk.org/index.php?topic=934268.0

http://www.jmwagner.com/

http://www.burtw.com/

yes selling bitcoin is not yet illegal anywhere, as not a single country has consider bitcoin as illegal currency therefore it is legal to buy or sell bitcoin. it will become illegal if a state or country consider bitcoin as illegal.

of course, bitcoin is not illegal. bitcoin same with other currency so if you buy or sell bitcoin is not illegal. bitcoin is a currency like a dollar, euro and any other. when bitcoin illegal true your said, illegal when your country consider bitcoin is illegal, and using bitcoin to illegal activties.

Maybe you should see your place whether governments accept bitcoin, prohibit, or letting. If the government where you accept bitcoin it would be legal because there are already laws that allow it, if the government where you let that might not be a problem because there is no law that prohibits the use bitcoin, but if the government where you prohibit it has included illegal to sell bitcoin as obvious law forbade.

I believe this depends on a country. If btc is generally illegal in your country then yes. If it is out of the law then I guess it isn't. If it is legal then probably you need some kind of a licence to do such things. You can check it here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country. And yet I think it is crazy if that's true people get arrested selling btc without a licence. Come on! Does it really always has to be about taxes and stuff?

I never heard that someone are arrested just to sell bitcoin.. maybe i they are selling a large amount of bitcoin because if they exchange a large amount of bitcoin they can get a large amount of money that there is no proof where he get it.. unless if he is mining bitcoin..
Here in my country i think bitcoin is legal since there is a building for bitcoin the main company that we are using their service online we are using their wallet and many other service that we can use our bitcoin like paying bills shop online they already some merchant partner and i think more adoption will come here in my country..
So i think it is impossible that bitcoin will be illegal we know that bitcoin are uses in some illegal activities in dark web but it is just like the same as fiat it can be also happen so it is normal that there is deals like drugs weapons and paying for bitcoin.. because of anonymous benefits of bitcoin..
But it is not the case because it is also happening in other currency..

It's not illegal since you aren't making wrong actions. What you said is another situation, for that actions you will be arrested but if you received bitcoins in legal ways than you are free but if you received it illegally, than use mixers at least for more safety.
Also many things depends on country, for selling bitcoin no one will arrest you but there are some countries whom don't like bitcoin

Those are companies that are engaged in buying and selling of coins and you would know the authorities are very much interested in knowing  who bought what and who sold what, especially the high volume ones. The spends with high volumes draws much attention from the authorities because they would want to establish and ascertain source of fund. Anti money laundry policies are not really targeted at cryptocurrencies, but on any valuable asset out there.

I really do not see it to be illegal to sell my Bitcoins if i want for as long as it accepted in my country so wen i get paid i can when sell when i want to or buy when i chose to.

Legal or illegal it all depends on the policies of their respective governments. If the government refused and strictly prohibits using bitcoin I think it will get to be jail sentences if violated. But if the government accepts it will not be a problem and you can freely use bitcoin. Every country has different regulations.

All you signature spammers sure post a lot but never say anything or contribute in any way to the threads.

At least read the fucking thread before you post.

Idiots like you are ruining this forum.

BAN ALL SIGNATURE CAMPAIGNS !!!!!

I second that motion. It has been moved and seconded, all those in favor say, "aye".

They ayes have it. The motion carries. Henceforth, all individuals posting with a signature campaign benefiting them monetarily will be summarily shot in the face with a BB gun until dead.

Meeting adjourned.