there is laws for how much money you transfer that is the problem..
under the limit your fine over? you better call your accountant lol
In the United States FinCEN has given guidance that whether an entity trading Bitcoins is a business or not is a matter of "fact and circumstances".
This means that whether my trading of Bitcoins on Localbitcoins.com was a business
is not a matter of regulation (over a specific amount, etc.) but must be decided by the decider of "fact and circumstance".
What this means is that the question of whether it was a business or not must be decided by a jury trial.
A jury trial for the criminal case against me
plus the additional civil trials of all the seized property was going to cost me an additional $75,000 to $150,000. The government offered to drop the criminal case against me and all the civil cases against all the seized items for a "donation" of $80,000 to their civil asset forfeiture slush fund. Since that was cheaper and was a guaranteed outcome (case against me dropped, get all the seized property back) we decided to go with that.
But the bottom line is that since the case never went to trial and the jury did not decide if what I was doing was a business or not
this matter was left undecided.
This means that they can still arrest you for doing any amount of trades using localbitcoins.com and claim it is a business. There are no regulations or guidance in place as to what constitutes a business and what does not.
some countries and some amounts dont have that problem its just a security and anonimacy thing into europe its regular to do like 200€ and dont pay taxes
I paid income tax on every Satoshi of profit I made. My case was never a tax issue. The question was whether my trading on localbitcoins.com constituted a business or not. It it was not a business and I was trading for my own account then I did not need a license. If it was a business then I would need a license.
What the government
should have done and what they would have done if they were not blinded by their delusion of a direct huge windfall asset forfeiture to their department, was send me a cease and desist letter and then we could have hashed this out like civilized human beings. Instead, they spent millions of dollars, arrested me, threw me in solitary confinement, treated me as a terrorist under the patriot act, and held a five year sentence over my head in order to unconstitutionally shake me down to fill their coffers by outright extortion.
