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Title: Bitcoin is a service Post by: zby on November 18, 2013, 08:01:40 PM There is a big discussion on what bitcoin really is - is it money, is it commodity or maybe a security? But technically paying a bitcoin is a service you do - it is signing a transaction with your private key.
How does that square with the legalities? Title: Re: Bitcoin is a service Post by: NewLiberty on November 21, 2013, 04:38:51 AM There is a big discussion on what bitcoin really is - is it money, is it commodity or maybe a security? But technically paying a bitcoin is a service you do - it is signing a transaction with your private key. How does that square with the legalities? That sounds odd. Is signing a check a service in your jurisdiction? Title: Re: Bitcoin is a service Post by: DeathAndTaxes on November 21, 2013, 04:47:25 AM How does that square with the legalities? It doesn't. Here is a the reality (and it applies to just about any legal matter). It isn't worth 2 craps what you think ... or I think or your neighbor thinks or even your lawyer thinks. What matters is what that old guy in a robe behind a bench thinks. At least in the US FinCEN has already told you what their side of the case will look like. If you convince a judge they are wrong and you are right well it doesn't really matter what FinCEN thinks either. However if that is the extent of your case well I don't think FinCEN has much to worry about. |