I am a licensed CPA in the state of Maryland with over 20 years of experience in the financial industries. Furthermore, I have extensive knowledge of Bitcoin.
I am here to support the Bitcoin community and advance the revolution!
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Hello Bitcoin Futures Options,
I am interested in your opinion in light of the FinCen's clarification in March regarding its position on convertible virtual currencies. The Final Rule amendment defines a person as an “exchanger” and “money transmitter” if he provides the means by which an exchange of convertible virtual currency is transferred from one person to another. The convertible virtual currency must be used as a substitute for a legal, centralised currency (such as the dollar).
What implication does this have in regards to tax for Bitcoin exchanges, such as Mtgox? Furthermore, who is defined as an "exchanger?"
Any insight would be greatly appreciated.
