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Author Topic: unlicensed money transmitter - Is that true for people collecting rare stamps?  (Read 1021 times)
Wilikon (OP)
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June 03, 2013, 07:01:22 PM
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Some people collects stamps, baseball cards and spend a lot of time selling them, buying them. Are those people unlicensed money transmitter too?

Is the higher frequency of exchange from fiat to bitcoin the main reason to be considered a money transmitter?
MSantori
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June 04, 2013, 02:56:15 PM
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Some people collects stamps, baseball cards and spend a lot of time selling them, buying them. Are those people unlicensed money transmitter too?

No.

Is the higher frequency of exchange from fiat to bitcoin the main reason to be considered a money transmitter?

That is part of how the regulatory authorities decide where to draw the line, yes.  Practically, though, money launderers have not gotten much use out of the collectibles trade.  If they ever do, the regulatory framework could conceivably change to include it.

Marco Santori is a lawyer, but not your lawyer, and this is not legal advice.  If you do have specific questions, though, please don't hesitate to PM me.  We've learned this forum isn't 100% secure, so you might prefer to email me.  Maybe I can help!  Depending upon your jurisdiction, this post might be construed as attorney advertising, so: attorney advertising Smiley
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